The Claimant was an over the road truck driver in Columbus. He was killed when another tractor trailer went left of center and struck his tractor trailer. He was in his mid-forties and had recently wed a woman in her late twenties or early thirties. The death benefit claim had a total value of around $800,000.00. The current dollar value (cost of annuity) was approximately $490,000.00.
THOMAS & CO. RESULTS
The Tortfeasor’s insurance carrier had a single limit policy of $500,000.00. Thomas & Co. discovered the identity of the carrier and placed it on notice of our subrogation lien, which was basically the entire value of the liability policy. Ultimately, we were able to negotiate a resolution of the subrogation claim and a settlement of the death claim as follows:
- Tortfeasor’s carrier reimbursed the Employer/Client in the amount of death benefits that it had paid out in the claim – around $15,000.00.
- The Employer/Client waived the remaining aspect of the subrogation claim, which had a value of approximately $485,000.00.
- In return for waiving the $485,000.00 subrogation claim, the Claimant’s widow agreed to settle the Workers’ Compensation death claim against the Employer/Client and accept the $485,000.00 settlement against the Tortfeasor. This meant that Thomas & Co.’s negotiations eliminated the Employer/Client’s exposure and recovered all of its monies paid under the claim. As a result, the death claim did not cost the Employer/Client anything. Rather, the total cost of the claim was borne by the Tortfeasor.
The Employer/Client Saved At Least $500,000.00 As A Direct Result of the Aggressive and Effective Settlement Negotiations of Thomas & Co.
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