Understanding Accident Claims and Compensation Flashcards
6 cards from real Accident Lawyer Tips practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 6 Understanding Accident Claims and Compensation flashcards as text
What is 'loss of consortium' in a personal injury claim?
Answer: Compensation for the impact on a spouse's relationship due to the victim's injuries
Loss of consortium compensates a spouse for the loss of companionship, affection, and support caused by the victim's injuries.
What is the role of an independent medical examination (IME) in accident cases?
Answer: The insurance company's doctor evaluates your injuries to challenge the severity
An IME is typically requested by the insurer to get a second opinion that may minimize reported injury severity.
How is future lost earning capacity calculated in serious injury cases?
Answer: Using an economic expert who projects lifetime income loss
Economic experts analyze career trajectory, education, and market data to project how much earning capacity the victim has permanently lost.
What does 'subrogation' mean in accident insurance claims?
Answer: An insurer's right to recover funds it paid on your behalf from the at-fault party
Subrogation allows your health or auto insurer to pursue the at-fault party for expenses they already covered on your behalf.
What is a 'structured settlement' in an accident case?
Answer: Compensation paid in installments over time rather than a lump sum
A structured settlement provides periodic payments, which can offer tax advantages and ensure long-term financial security for the victim.
Why might an accident case go to trial instead of settling?
Answer: When the insurer's offer is far below fair compensation
Cases proceed to trial when settlement negotiations fail to produce a fair offer that adequately compensates the victim's losses.