California | Legal Malpractice
Legal Question
I recently went to mediation on an underinsured motorist personal injury case which was turned into binding arbitration, my award was as follows: “I find the claimant is entitled to $250,000 less a credit of $50,000, so the award is $200,000 in new money”. ($50,000 was the policy limits under the adverse party’s liability policy).
Seven months prior to mediation my UIM insurance company advanced me $75,000 in “good faith” money.
Now, instead of paying me $200,000, the company is trying to say I only have $125,000 coming; they are attempting to take a credit for the $75,000. My attorney agrees. Is this fair?
Secondly, could you please tell me what the meaning of “new money” is?
Phil
PS: I subsequently found out that my attorney’s practice is comprised mostly of mediation and arbitration and that he does a lot of mediation for this same #1 automobile insurance company. There are additional circumstances which may prove to involve malpractice by two, if not three of the parties involved. If I do retain additional counsel, I want someone very experienced in legal malpractice.
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Read More Answered By: Steven Kuhn |
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