Essentially, settlement translates to a closure of the case. Generally, the Employer/Insurer will pay the injured employee a lump sum of money to relieve them of any past or future liability. The decision to settle a workers’ compensation must be a mutual one. The injured worker and the Employer/Insurer must agree to settle the case.
From the Employer/Insurer’s side, it is strictly a business decision. From the injured workers’ perspective (more…)