What happens after the victim and insurance company reach a settlement? | Shapiro, Washburn & Sharp

Once the two parties reach an agreement as to how much the insurance company should pay the victim, the amount should be put in writing. The amount should be enough to pay all the victim’s expenses after the attorney fees are deducted. The insurance company will also have the victim sign a release form that bars the victim from pursuing any more claims on the accident. It typically takes a few weeks from the time the victim signs the release to receive the funds. At that point, the claim will be closed.