Author: Joe Pileggi
Summer Reminder for Ontario Personal Injury Lawyers
Courtesy of EPS Settlements Group of Canada
– “The Structured Settlements Company”.
Just a reminder (yes, I am embarrassed to say this while I am sitting at the end of a dock up north) but we all need to prepare for this year’s settlement rush.
Ontario’s car insurers have made a tremendous amount of money this year since travel, driving, and accident statistics remain lower then normal (the covid effect). Therefore they have plenty of incentive to lower their reserves, by settling as many cases as possible before year end. From your perspective – the window to settle those cases is between September through to December 15th.
Yikes! That is less then six weeks away.
So here goes:
A) Check your PI file list and see which cases are ready, or close to ready to settle. Do you have up to date medical reports? Are your damage assessments up to date? Have you set up dates for settlement meetings or mediation?
B) Don’t underestimate insurance adjusters. They are the drivers of settlement. Having a good rapport with them is key to most resolutions.
C) It looks like interest rates have peaked for the time being. With the Canadian and US governments’ central banks deciding to keep the interest rates steady, now is the time to up-date SAB and/or Tort structured settlement reports for the coming rush.
D) In this day and age settlements for insurers and plaintiffs, need to be exceptionally fair. The Doug Ford government continues to look at ways to keep car insurance premiums low. Due to Covid, the Marshall report has simply been put on hold. Structured Settlements remain the number one way for both sides of the bar to prove to the government that the system works and settlement monies are being properly protected for the disabled persons long term medical and rehabilitative needs.
Lastly – Stay safe and don’t hesitate to give me a call!
Best wishes and enjoy the summer.
Joe Pileggi – 647-896-4907
Please feel free to contact Joe via his LinkedIn for annuity illustrations or other structure questions and the advantages of placing your structures with the experts at EPS Settlements Group of Canada.