Settlements In Workers' Compensation Injuries
Type of Settlements Avaiable In Workers' Compensation Claims
Workers' Compensation has two common types of settlements available to injured employees. First, Compromise and Release or second Stipulated Finding and Award.
In a Compromise and Release injured worker receive a settlement for a lump sum of money. While he releases his rights to any future benefits. This essentially closes the entire case and ending any future medical care. This type of settlement is usually possible if the injured worker is no longer employed by the employer where the injury occurred.
Stipulated Finding and Award, the parties agree to the same terms and settle the case based on those terms. This has the same effect as a judge's descion. Once the injured worker decides which settlement avenue to take, a document is presented to the judge who reviews the documents and authorizes the settlement in order to make sure the settlement is reasonable.