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Now, if you think that insurance companies are all keen and fired up enthusiastically about paying up your compensation, you might rethink your approach on this matter. In fact, if that was true and insurance companies went on each and every consecutive day to pay up all the claims, personal injury lawyers would have been out of work. Of course, the same would have to be said about the insurance providers themselves because they would also have bankrupted quickly enough as this is not the way the entire system works.
As much as you don’t want to believe it, the insurance company exists for one particular reason. And, as unfortunately as it may be, it’s not to protect your interests – it’s to make money. It’s as simple as that. A lot of the Canadian insurance companies are actually traded on the TSX – The Toronto Stock Exchange. Sun Life Financial, Intact Financial Corp, Manulife Financial and many more – these don’t even begin to describe the entire picture. So, guess what – they need to report profits in order for their shares to go up and so that they can make money. And, the only way to turn profit in this business is either to hope that the insured never gets hurt or the other, much more common and logical way – to fight off insurance claims and to reduce compensations. That’s just it.
Basically that’s all there is to it. It’s nothing personal – they just need to stay afloat. The more money the insurance adjuster manages to cut off your compensation, the more money they can turn to profit and report back to their shareholders. This is the main reason for which the adjusters are actively incentivized to strike deals with low ball offers. Those who are not represented by an experienced lawyer are intimidated by the aggressive adjusters and legal team of the insurance company.
Things to do
There’s nothing you can do to change that. Whatever it is that you are doing, you should know that the insurance company may actually believe that you are injured. It may even be certain about it and it’s still not going to pay you just like that. That’s just not how it works. So, the way to go is pretty comprehensive. You hire a reputable personal injury lawyer, you jump through all the hoops and you get the money that is rightfully yours. It’s not going to be easy but it is how it is and there’s nothing anyone can do about it.
The key is to find a reliable and experienced lawyer who is well aware of all the tricks in the books. This is going to allow him to actually fight off the attacks of the insurance company and to get you the compensation that you need. They work on a regular basis with insurance providers and understand the nuances of getting the compensation in a settlement out of court or through a trial.