Case Value and the Economy

Times of economic struggle can profoundly affect the outcome of an insurance claim in several ways. Consulting a team of experienced Orange Park injury lawyers will ensure that your case receives the attention it needs in a difficult economy.

Skepticism in Hard Economic Times

Orange Park injury lawyers

Attitudes about personal injury claims change during economic slowdowns. Looking for a reason for the poor economy, many politicians and media figures are quick to point fingers at personal injury claims for causing businesses distress in an already difficult time. Their campaigns for tort reform also affect juries, who are hesitant to approve large settlements. If your case is a small one, your Orange Park injury lawyers will face an even greater challenge: juries are often skeptical about small claims, and are less likely to assist you when it involves a low-impact accident or soft-tissue injuries.

Determining Case Value

When a jury does decide in your favor, your case value may still be greatly affected by the slow economy. Small-to-medium non-catastrophic cases are particularly scrutinized by insurance companies, and payouts for those will be smaller. Companies are equally hesitant to hand over the maximum value for a catastrophic case. A settlement that might have garnered $15,000 in a good economy will slip down to $10,000, and even smaller cases will be complicated for your Orange Park injury lawyers to resolve.

Other Factors

Insurance companies will be looking to save money in a bad economy, which might mean laying off employees and cutting back on claim value. With less staff involved, cases move slowly, especially the high settlement period from October through December. Some may be transferred or assigned to a claims adjuster who is already underwater with a heavy caseload.

Get in touch with First Coast Accident Lawyers at (904) 278-1000 to discuss your personal injury case with an experienced Orange Park injury lawyer.

About John Fagan

John is a Jacksonville native who grew up on the First Coast. He graduated from Bishop Kenny High School in 1975 and went to college at Florida State University where he completed a 4-year program in 3 years. John graduated from the Florida State University College of Business in 1978 and went straight into Florida State University College of Law. While in law school, John earned a position on the prestigious Law Review Board serving as its Business Editor. As a law student, John studied in the Oxford program. He also interned with the Florida Legislature working in the Florida House of Representatives Criminal Justice Committee. John was admitted to the Florida Bar in 1981. John began his legal career as a law school intern in the State Attorney's Office in Jacksonville in 1981. After his internship, legendary State Attorney Ed Austin hired John as a full-time Assistant State Attorney for the Fourth Judicial Circuit (Clay, Duval, and Nassau Counties). As a prosecutor, John tried jury and non-jury trial on charges ranging from DUI to Murder. In 1983, John moved from the State Attorney's Office to begin his career in private practice. He has practiced law for 30 years on the First Coast. For the last 20 years, John and his family have made Clay County their home. John limits his practice to personal injury and disability cases. While there are many fine attorneys in Clay County, John is one of only a few Clay County attorneys who limit their practice to personal injury and disability cases. John takes pride in helping clients resolve injury claims in ways that avoid the stress, uncertainty, and the expense of unnecessary litigation. Professional Activities John is the past President of the Clay County Bar Association and has served on the Board of the Clay County Bar Association from 2009-2013. He is an active member of the Florida Bar, and the Federal Bar of the Middle and Southern Districts of Florida. He is also a member of the American Association of Justice, the Florida Association of Justice, the National Organization of Social Security Claimants' Representatives, and the National Organization of Veterans' Advocates. Service to the Community John is involved in the Clay County Community serving as a member and Director of the Rotary Club of Orange Park, of the Clay County Bar Association, and the Putnam County Bar Association.
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