You see ads for compensation for an injury all the time, on the telly, in the papers, etc. If you have been injured and it was not your fault, seek compensation.
The majority of these ads are from law firms, solicitors that may specialise in helping those inured in getting paid for their injuries. Many of these accidents or injuries stem from auto accidents. And the person injured is told it will not cost them anything to get the compensation they deserve.
But who pays this compensation?
Before we reveal the secret of who pays out, let’s look at the differences between the UK and America in seeking out compensation.
In America you may need to hire an attorney/lawyer who specialises in suing companies or insurance companies and represents the person injured. Which is the same here in the UK.
In America the lawyer charges a fee which usually is a percentage of what compensation the inured party may receive; this percentage is anywhere from 25%-35% and after expenses.
In the UK the claimant, the person inured, usually receives 100% of the compensation and the solicitor’s fees and expenses are paid by the other party.
So there are just a few differences between the US and the UK in how claims for injured parties are handled.
So who pays this claim out? I gave it away above. In most instances it is going to be an insurance company.
Even if a company is liable for an accident or injury they probably have insurance and in the end if the case is lost or they are responsible, their insurer will pay out the claim.
In the instance of an auto accident it is obvious that the insurance company will pay out the claim. If someone did not have any insurance, then they could personally be held liable and taken to court to pay the claim.
So just another way when you take things down to their least common denominator, insurance and insurance companies are usually at the bottom of things.