The average settlement for mesothelioma is between $1 Million and $1.4 Million. This is an average, and actual compensation numbers will vary on a case by case basis. It is rare that defendants in a mesothelioma lawsuit don’t settle out of court.
What Is a Mesothelioma Settlement?
Through a mesothelioma settlement, manufacturers of asbestos-containing products agree to compensate the asbestos exposure victim or their surviving family members. In return, the victim gives up any claim to further legal action.
Settlements are one potential outcome of a mesothelioma personal injury lawsuit. The two opposing sides in a personal injury case are the plaintiff and the defendants. In a mesothelioma lawsuit, the plaintiff is the mesothelioma victim, and the defendants are the asbestos companies.
Working with an experienced mesothelioma lawyer who knows how to build a strong asbestos case can help victims get the financial compensation they deserve.
Mesothelioma Settlements vs Trial Verdicts
Mesothelioma settlement compensation is typically awarded through pretrial negotiations between the plaintiff and the defendants. Compensation through a trial verdict is awarded when a judge or jury finds the asbestos companies (defendants) guilty.
Manufacturers of asbestos products often choose to settle out of court because they don’t want to risk having to pay punitive damages in a mesothelioma trial.
More than 95% of mesothelioma lawsuits reach settlements.
Fortunately, settlements are usually the most advantageous legal option for both the defendants and the mesothelioma patient.
Compared to mesothelioma verdicts, settlements:
- Award mesothelioma compensation faster
- Are less expensive
- Are less stressful
- Provide guaranteed compensation
If the settlement offer is not satisfactory, or if the manufacturer denies the claim, the victim still has the option to take the case to trial. However, by considering settlement before going to trial, victims put themselves in the best position to get the compensation they deserve.