This is a version of a blog post I write every year around this time. I do it because it’s really important. I’m a big believer that Illinois workers should maximize the benefits they get out of a workers compensation claim. This includes getting the biggest possible settlement for your case.

One big caveat. This post applies to people who are done treating for their work related injury. Getting a settlement is great, but you should never do that before you are done with your medical care. If you do it could cost you tens or hundreds of thousands of dollars and put your health at risk.

Now back to the original point. This is the best time of year to settle an Illinois workers’ compensation case? Why? Because you will never find the insurance adjuster more motivated to do so.

Insurance adjusters and their bosses get bonuses based on how many cases they close. They are given goals for how many they have to close each year. They are thinking about their personal bottom line and not what’s best for the company right now. Many of them are feeling pressure to hit a certain number of closed cases.

Insurance companies like closed cases and will offer settlements so they can know that they are done with your claim. The adjuster and/or their boss wants to have as many cases closed as possible. So they are willing to pay top dollar to resolve your case right now because it will get them one step closer to more money in their own pocket.

In other words, let’s say your case has a settlement value of somewhere between $70,000-$100,000 and that the insurance adjuster has been authorized to pay up to $95,000 to resolve your case. If this was March, they’d likely tell your lawyer that the most they can offer is $75,000 and hope that they’d tell you to take it. If your lawyer didn’t budge, they’d continue to nickle and dime you and wouldn’t be in a rush to end your claim.

But now they are less likely to play games and more likely to roll over and offer the most they can offer. That’s because from the moment a settlement is reached until the case is closed can take 30-60 days. While it’s sometimes longer and possible it can happen faster, for them, time is of the essence. They need an approved settlement contract in their hands before the end of the year so your case can be closed in a way that helps them and/or their boss.

That doesn’t mean they’ll offer the most they can right away, but many, many times we’ve seen insurance adjusters do this very quickly. It’s why we joke that It’s The Most Wonderful Time Of The Year is a work comp song.

So if you have a good lawyer and your case is ready to settle, they should be aggressive and make it happen. If you don’t have an attorney or don’t think yours is aggressive, give us a call as we’d be happy to help you. There is a great chance you can have your settlement check in hand before the year is over. Call us any time for a free consultation, 312-346-5578. We cover all of Illinois.