How is a settlement determined in a catastrophic injury case?

The value of a settlement in a catastrophic injury case is determined based on the amount of damages suffered by the injured party. Depending on the type and magnitude of the injury, a settlement can include medical expenses, lost wages, pain and suffering, and other expenses related to the injury. In Oregon, settlement amounts are based on a variety of factors, including the severity of the injury, the type of care required, and the financial losses incurred by the injured party. Insurance companies and defendants usually offer compensation based on the monetary value of the injury and the associated hurt and suffering that has already occurred. A financial expert, usually an actuary or an attorney, will evaluate the case and provide an estimate of damages that is fair for both parties. An offer to settle may then be made by the defendants or their insurance company. At this point, negotiations may begin between the attorneys of both parties. This may involve discussing the expected medical costs, what the defendant is willing to pay, and how the settlement amount can be structured so that the injured party receives the most compensation possible. Both parties must then agree on a settlement amount and come to an agreement as to how the settlement will be paid. At this stage, the parties may agree to sign a settlement agreement, which outlines the details of the settlement.

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How is a settlement determined in a catastrophic injury case?

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