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Some accident victims believe that accepting a settlement from an insurance company will be better than subjecting themselves to long court battles that may or may not go in their favor. However, some individuals quickly discover that accepting a settlement from an insurance company may not be to their advantage. In fact, Fort Myers personal injury attorneys are well aware of the fact that oftentimes, insurance adjusters lowball personal injury claims on a routine basis.

The Consumer Federation of America (CFA) has issued a report that discusses how a large number of insurance companies use computer-based assessments to not only increase their profits but also lower the amount of money that is paid to victims who file personal injury claims. Attorney Randall Spivey notes that accident injuries can leave victims with pain and suffering that can linger on for the rest of their lives. Thus, it is very important for individuals who have been hurt in accidents to work with skilled personal injury attorneys who will work hard to ensure that they receive the compensation they deserve.

Colossus

A commonly-used injury evaluation program among insurers is called Colossus. The way the program works is that, once an insurer buys the program from the Computer Sciences Corporation (CSC), a benchmark session is done. During this session, the insurer is asked to pinpoint claims adjusters who are familiar with claims in certain areas of the country. Once that is done, CSC then creates imaginary claims to review in order to come to a consensus about the value of those claims. Those values are used to "tune" the software.

Once that is done, the insurer takes a sample of previously settled personal injury claims of all kinds from all around the country to do what's known as a "closed file study." Those claims are studied to determine the settlement value that Colossus would have suggested for each of those claims. The insurer compares that information to what was actually paid and if the insurer finds that Colossus' recommendations are "out of range" with respect to the amount of savings the company wants to experience, the insurer can make adjustments to the software accordingly.

Ensuring That You Get Fair Compensation For Your Injuries

Many Fort Myers personal injury attorneys will tell accident victims that there are still ways to make sure that they receive just compensation for their injuries, particularly when considering accepting a settlement from an insurance company. First of all, it is important to inquire about the insurer's use of a computer-based program, such as Colossus, when crafting a settlement offer. If the company does use such a program, victims can ask to see the range of offers that are typically generated by the computer. And finally, victims should not accept anything lower than the highest of range offers, especially since the insurers have the ability to tune the computers to lowball payments. Keep in mind that insurers' high offers are probably still lower than what they should be.

If you or a loved one has been injured in an accident and you have questions about accepting a settlement, contact the Fort Myers personal injury attorneys at The Spivey Law Firm, Personal Injury Attorneys, PA today.