A lot of mesothelioma patients are hesitant to file a lawsuit, fearing their case may get dragged out. However, most mesothelioma claims are settled out of court.
Who Gets Settlements?
Benefits of Settling
Receive a Guaranteed Sum
The primary benefit of mesothelioma settlements is agreeing upon a guaranteed sum of money. Going to trial is risky because the outcome is placed in the hands of a judge and jury, whose opinions may be swayed.
Avoid a Lengthy Trial
Trials move slowly, and unfortunately time is not a resource most mesothelioma patients have. Taking a settlement expedites the payout process, and that money may provide funding for better treatment.
Settle in Private
One of the downsides to trials is that they are public. Whether you win or lose is made public on a docket, which may be unsettling if you are awarded a large sum. Settlements allow you to keep your compensation private.
What Are Settlements?
During this part of the lawsuit process, mesothelioma attorneys try to force the hand of the asbestos companies into offering an acceptable settlement. This involves a lot of formalities and negotiations, but both parties usually intend to settle unless it’s under precarious circumstances. An overwhelming majority of all lawsuits, including mesothelioma lawsuits, are settled out of court.
How Much Are Settlements Worth?
Settlements vary in amount from case to case and out of court settlements are rarely made public. However, there are several estimates of mesothelioma settlement amounts made through policy research. A report by the Rand Corporation in 2005 found that the overall compensation for mesothelioma lawsuits rose sharply in the 1990s.
How Are Settlements Determined?
The amount of compensation depends on various factors involved in the negotiation of the settlement with the asbestos companies. Every settlement is different and some factors may be more important to than others in negotiating a settlement, but there are certain topics consistently covered in every case. Some of these factors include:
- Medical expenses
- Lost wages
- Pain and suffering
- Asbestos exposure history
- Accumulation of debt from lost wages
Should I Take My Case to Trial?
The primary disadvantages of going to trial are the uncertainty of compensation, the expense and the length of time the process takes, so settlements are sought out a majority of the time. However, every mesothelioma case is different and it could potentially benefit a patient to seek a verdict. Find out the best course of action for you by getting connected to top mesothelioma law firms.