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CASE HISTORY - Bad Faith Insurance Claim
In the fall of 1995, Michael, a healthy, active fifteen year-old, was riding in the back seat of a Jeep
Wrangler. The driver lost control on a curve and the vehicle plunged down an embankment, landing on
its side. Michael's head was crushed upon impact with the rollbar of the Jeep.
Michael sustained a serious, life threatening, permanent injury. He required two brain surgeries and
suffered tremendous pain and suffering.
With medical bills alone over $100,000, Michael's attorney sent a demand letter to the defendant's
insurance carrier offering to settle the case for the policy limit of $100,000, giving them twenty days to
respond. When the carrier did not respond within the twenty-day period he withdrew his offer to settle
and filed suit. As the trial date drew near, the carrier finally offered the policy limit, which was rejected.
In the subsequent trial the jury awarded the plaintiff $325,000.
Shortly after the judgment was entered, the defendant conveyed his bad faith claim against his carrier to
the plaintiff and was released from the action. Michael's attorney filed the bad faith suit, which was
vigorously defended by the insurance carrier.
One year later (a full four years after the accident), Michael, now 19, needed money for living expenses
and his case was months and months away from resolution.
CapTran
invested $16,000 in three separate fundings over the next four
months, enabling Michael the time to resolve his case. Michael's
case was finally settled for more than $500,000 in March 2001.
Our investment helped Michael to get a settlement hundreds of
thousands of dollars higher than if he had settled before we
invested in his case.
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