An instrument used to estimate the potential monetary worth of an injury claim quantifies various tangible and intangible losses. For example, a program may factor in medical bills, lost wages, and pain and suffering to produce a preliminary settlement range. This range offers a starting point for negotiation with insurance companies.
Understanding the potential financial recovery in injury cases is vital for both claimants and legal professionals. These instruments provide a framework for evaluating claims fairly and consistently. Historically, determining the worth of a claim was often subjective, leading to disparities in settlements. The advent of these resources has helped to standardize the assessment process, promoting equity and transparency.