Mesothelioma settlements are payouts made by companies facing lawsuits from those with asbestos-related diseases. The average settlement for mesothelioma is between $1 million and $1.4 million. Mesothelioma settlements are often better for veterans and others affected by this cancer, as they award financial compensation faster and are less risky when compared to a trial.
What Is a Mesothelioma Settlement?
Settlements are the most common outcome of a mesothelioma personal injury lawsuit. Through a mesothelioma settlement, manufacturers of asbestos-based products agree to compensate the victim or their surviving family members. In return, the legal action stops.
Once a client receives their mesothelioma settlement compensation, they can use it to pay for anything. This includes living expenses, medical bills stemming from a mesothelioma diagnosis or treatments, or even vacations.
The mesothelioma settlement process does not impact a veteran’s ability to file for benefits from the U.S. Department of Veterans Affairs (VA). This means veterans can access compensation both from the VA and from a settlement.
An experienced mesothelioma lawyer who knows how to build strong cases can help veterans pursue an asbestos settlement.
Mesothelioma Settlements vs Trial Verdicts
Mesothelioma settlements are often awarded through pretrial negotiations between the plaintiff (the mesothelioma victim) and defendants (asbestos companies) in a lawsuit.
If a settlement cannot be reached, or if the settlement offered is not satisfactory, then the case goes to trial. Compensation through a trial verdict is awarded if a judge or jury finds the asbestos companies guilty.
While mesothelioma trial verdicts may award more compensation if a plaintiff wins, they are very rare due to the high risks associated with them.
Why Defendants Want To Reach Mesothelioma Settlements
It’s very unlikely that defendants will want a mesothelioma lawsuit to go to trial.
Compared to mesothelioma verdicts, settlements:
- Are less expensive
- Are less stressful
- Award mesothelioma compensation faster
- Provide a set amount of compensation
Defendants also don’t have to risk paying punitive damages in a mesothelioma settlement. These are extra payments for the plaintiff awarded to punish the defendants in a trial setting.
For all of these reasons, defendants may agree to settle the case. Most settlements occur before a trial, but some occur mid-trial or after a verdict has been rendered.