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The result of a settlement agreement involves the responsible party paying a certain amount to compensate for the damages caused to the victim. Receiving compensation after a settlement for a personal injury claim might take: as little as five working days. somewhere between 14 to 28 days.
A settlement approved under Section 8(i) discharges the liability of the employer or carrier, or both. 33 U.S.C. §908(i)(3). This subsection further provides that a settlement may be agreed to at any stage of the proceedings, including after entry of a final compensation order.
Timeline for Settlement Most workers' compensation cases in California settle within 30 days. Ideally, the workers' compensation insurance company will take responsibility right away. You may need to appear before a judge in an informal hearing.
Either settle the case after trial for a lump sum of money through a compromise and release or take the permanent disability money awarded by the judge and seek all future medical care through the Workers Compensation insurance company within the scope of medical treatment the judge awards the injured worker.
You can receive a workers' comp settlement offer at any time throughout a case. However, most cases are settled within 6 months and are almost always paid out after the injured worker has reached maximum medical improvement (MMI) ? the point where a doctor has determined the injured worker has recovered.