Riverside Workers' Compensation Attorney
Settlements for Workers' Comp Claims
The vast majority of workers' compensation claims are settled outside of court. A settlement is essentially a voluntary agreement reached by both parties (the injured worker and the employer/workers' compensation insurance company) in a workers' compensation claim regarding the payment of benefits, as opposed to a verdict reached and judgment imposed in court. There are two types of settlements in a Riverside workers' compensation case: a Stipulated Finding and Award, and a Compromise and Release.
Stipulated Finding and Award
A settlement of this kind has the same impact as a judge's ruling and is an agreement entered into voluntarily by both sides in a workers' compensation claim. The key components in a Stipulated Finding and Award will be determining whether the injured worker needs future medical care and what percentage of disability benefits the worker should be entitled to. Both parties must agree upon these issues to reach a settlement of this kind.
Compromise and Release
In this type of settlement, the injured worker will receive a lump sum of money that will in turn release his or her right to further benefits. This essentially closes the case and is most often helpful in cases where the injured worker no longer is employed at the company where the injury occurred.
Reaching a Settlement for Your Riverside Workers' Comp Claim
Reaching a settlement for a workers' compensation claim is of the utmost importance. Although we can take your case to court or to an appeal if necessary, agreeing upon a settlement without court involvement is typically much faster and less costly for everyone involved. In cases such as this, recovering the money you need as quickly as possible is important, particularly considering the fact that your financial future may be at risk and the injury may be taking an emotional toll as well.
Learn more about how a settlement may be reached for your workers' compensation claim in Riverside, California.
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