How Has COVID-19 Impacted Personal Injury Cases?

Whenever a client or potential client asks “how much is my case worth?”, one of the many factors I explain is “believe it or not, what happens in the world impacts your case and will impact how much your case may be worth.”  Nothing could be further from the truth than what is now going on with COVID-19 and personal injury cases.
Insurance companies know that some folks are not working.  They know that some of those folks are individuals injured in car accidents and have a claim for injuries.  They know that courts are closed and trials are getting pushed back for months.  
So, adjusters believe that some of those injured folks may be desperate enough to take smaller offers to settle, regardless of the unreasonableness of the offer, because that would give them some money immediately. I actually had an adjuster say to me “with this COVID-19 nonsense going on, does your client want to take our offer?”  
Yes, adjusters and defense attorneys (working for insurance companies) are making especially low offers on purpose, with this thought in mind: “take our offer now or wait and wait and wait!”  
Evil or not, you decide:   On April 7, 2020, an insurance data analytic company and consumer advocate released a special market report titled “COVID-19 Windfall Profits Estimated at $100B for Car Insurers.” In the report, ValChoice estimates that insurance companies could realize $100 billion in windfall profits due to the change in driving habits forced by shelter-in-place mandates.
Yes, insurance companies are about to get $100 billion in windfall profits due to COVID-19, while they intentionally make low ball offers to victims of car accidents.
For more information, please call The Mason Law Firm at 661-476-5678 or email mason@mrscvlaw.com.