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Early last year, I was involved in a collision with a motorcycle. The police report ruled in the motorcyclist favor and my insurance company is accepting liability (15 per person). The claimant (in/from Canada) has made a bodily injury claim; the result of the accident was a sprained ankle. My ins co. told me they have lawyer and they want me to release my policy limits.
Although I am quite frustrated to be informed that because of the police report, they are ruling in her favor, it has been a while and I want to move on with my life. I am not sure whether I should release the policy limits. I am also not sure how to protect my assets (wages, etc). Also she has no medical ins. How much do you think a sprained will cost? She had it treated when the emergency vehicle came out.
Thank youFrom my bodily insurance rep: "Unfortunately, I can’t advise you one way or another on whether or not you should agree to release your policy limits information as that would be construed as providing legal advice. However, regardless of whether you allow for me to share your limits information with the Plaintiff, my objective is to settle this claim and get a signed release from them."
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