|Posted on April 22, 2017 at 1:15 PM|
Studies have shown that plaintiff's attorneys over-estimate the value of their client's injury case and reject more favorable settlement offers 61% of the time. Each such mistake cost an average of $43,100. (Kiser, 2008 ). On the other hand, defense counsel and their insurance claim managers were more accurate in their predictions on a more consistent basis. They were "wrong" only 24% of the time as measured by rejecting offers of settlement from the plaintiff that ended up being more favorable than the jury verdict. But, when they were wrong, the "mistake" was a doozy resulting in an average cost of $1,140,000. (Kiser, 2008 ).