A Florida court has ruled that one of the state’s largest automobile insurers must pay over $100,000 in attorney fees under the “additional payments” provision of its liability coverage

Typically, attorneys who represent automobile accident victims are paid on a contingency basis and receive a percentage of any damages paid to the victim. Payments to attorneys are characterized and considered as “fees.”

Such fees are differentiated from court “costs,” which a prevailing attorney receives from the insurer. Costs can include monies for filing documents, hiring expert witnesses, court transcription services and other expenditures.

There is only one exception to that compensation system. Under a Florida law, if a victim’s jury award exceeds an offer of settlement by more than 25 percent, the victim can request a payment for additional attorney fees.

 

Please read the full article below and please call L & S Insurance at 1-888-244-7400 for quotes on Home, Flood Auto, Business & Commercial, & life & Financial products as well.

 

http://www.insurancejournal.com/news/southeast/2015/02/26/358728.htm

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