Accidents aboard freighters, passenger ships, drilling platforms and other vessels can lead to devastating injuries that affect you for the rest of your life, but insurance companies are slow to settle maritime law claims. In 2015 alone, $1.7 billion in insured losses were incurred due to marine accidents, so insurers are motivated to reduce the awards paid at all costs, even if it means tying up your claim in court for years. Maritime law settlement funding can provide needed money for your family if you are awaiting a settlement in a maritime law case. This money is an advance against the settlement, and its approval is based on the merits of your case and the likelihood of your case being awarded in court.
What is Jones' Act and Maritime Law Settlement Funding?
Maritime lawsuits are often complicated and complex. Settlements that fall under the Jones Act govern injuries to employees at sea. These cases are slightly different from worker's comp cases, since they require the injured person to provide proof of the employers' comparative fault leading to an injury. The employee's own fault in the injury is assigned a percentage, and any award is reduced by that percentage. For example, if the settlement would be $200,000, and the court finds a 20 percent fault on the behalf of the employee, then the award is reduced by $40,000, leaving the gross settlement at $160,000. Because of the complexity of work injuries under the Jones Act, maritime cases can be long and arduous. Maritime lawsuits involving accidents on cruise ships or accidents on the sea not related to employment are somewhat simpler and take less time to settle than Jones Act settlements.
How Can Maritime Law Pre-Settlement Funding Help?
Due to the Jones Act's provisions assigning some fault to the injured worker, insurance companies normally try their hardest in maritime cases to blame the worker, even if it does nothing but hold up the case. The result is a lengthy legal battle that leaves the injured person in need of cash. Maritime law pre-settlement funding can provide an advance equal to a percentage of the amount that your attorney hopes to collect on your behalf for your injuries. This money can be used for anything you need – from groceries and utility bills to college tuition or a down payment on a new car. It is not a loan, so there are no monthly payments to make, and if you don't win your case, you are not required to pay back the funds.
Getting Approved for Maritime Law Pre-Settlement Funding
To start the process of receiving maritime law pre-settlement funding, simply fill out an application, provide the details of your particular maritime lawsuit, and your attorney's contact information. An underwriter analyzes your case, determines its value, and decides whether or not to extend funding to you. When approved, litigation-funding proceeds are transferred to you within a short time, alleviating financial burdens and helping you get on with your post-accident life. Contact Lawsuit Funder to get the process started now.