There is no formula for that calculation.
Chances are your attorney will have to file a lawsuit and take the matter to litigation before the insurance company re-visit its assessment of the damages or liability or both. From what you say, it is impossible to figure out whether the low ball offer is based on bad liability or questionable damages or questionable extent of damages or all of them.
But, nevertheless, my experience is that there is no way to get an insurance company to put serious money on the table without actually having filed a lawsuit and having that looming over their head. A lot of times, once deposition of the parties and specially the deposition of the reating physician have been taken and are favorable to the plaintiff, the insurance companies end up re-evaluating their position.
I hope this helps-
Disclaimer: I am a lawyer licensed in the State of Illinois only, and I am not your lawyer (unless you have been in my office and signed a contract). This communication is not intended as legal advice, and no attorney client relationship results. Please consult your own attorney for legal advice. This is for entertainment purposes only.
The final amount could vary on many factors to numerous to detail herein. However, you will know their final offer when the insurance adjuster tells you (and I am paraphrasing) this is our final "take it or litigate it" offer and then refuses to budge no matter what counteroffers you make.
Disclaimer: I am a lawyer licensed in the State of Texas only and I am not your lawyer. This communication is not intended as legal advice and creates no attorney client relationship. Please consult your own attorney for legal advice. This is for entertainment purposes only.
The othe providers have given you good information. I will only add to what has already been said. The authority insurance adjusters have to settle cases varies by company. One thing for sure, adjusters have less authority than in years past. Insurance companies have gotten tighter. Insurance adjusters with 20 years experience that in the past had settlement authority of $100,000 or more sometimes only have $20,000, for example.
Also, your attorney probably asked for more money than he/she expected to get, so there was room to negotiate. You should ask your attorney this question.
Chico Injury Lawyer
Disclaimer: The above was not legal advice and cannot be relied on. For informational purposes only.
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