Under the New York State Workers' Compensation Law, settlements under Section 32 are voluntary. The insurance carrier is not obligated or required to offer a settlement. Nonetheless, in the vast majority of cases, insurance carriers will be interested in trying to settle a claim.
Insurance companies are motivated to settle cases because they realize that over time they will likely pay out significantly more than what the injured worker will accept as a one-time settlement payment.
Injured workers are often interested in settling their cases because they are fed up with the inefficiencies and inequities of the New York State Workers' Compensation system. They also realize there are no guarantees regarding future benefits and that a shrewd insurance company can very easily reduce or suspend their benefits and begin lengthy litigation. During litigation, insurance carriers are often allowed to suspend benefits or reduce them depending on the nature of the legal issues involved.
Without in-depth knowledge of the Workers' Compensation Law and the workings of the system, it is impossible to fairly evaluate your case for settlement.
If you have a claim and are interested in finding out whether you may be entitled to a settlement, feel free to contact us to learn your rights. We will offer a free case appraisal.
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