If you have been diagnosed with an industrial disease such as asbestosis or mesothelioma, you may be considering making a compensation claim. When the dust from this claim settles and negotiations are finalised there is one last decision that needs to be made – do you accept a full and final settlement or elect for a provisional settlement?
Each option has significant legal and financial implications, especially given that many industrial diseases can worsen over time or lead to further complications. If caught in two minds, you might find the following information useful to help decide which is the best option for you.
What is a Full and Final Settlement?
Informally known as the “one bite of the cherry approach”, this settlement option is what it says it is – full and final. It means that should a claimant’s health continue to deteriorate with time they cannot claim additional damages for either newly developed conditions or the worsening of their current condition. Any amount received would aim to compensate the claimant for the development of their illness and any related losses they have incurred.
Settling a claim on this basis means that all money owed is paid upfront. It also provides closure for the claimant and their family to know that the legal claim process is concluded once and for all, a priceless thing in and of itself to many. On the flip side, the full and final settlement option is the end of the compensation claim for someone exposed to asbestos. Settling on this basis may result in the claimant being ultimately undercompensated in circumstances where new, but more expensive treatment options become available. Likewise, the costs associated with treating different conditions may vary, meaning that extra unknown future costs may arise if the claimant was to develop a more complicated asbestos related condition.
What is a Provisional Settlement?
A provisional settlement works a bit differently. The claimant still receives some compensation, but potentially has the right to come back and claim for more compensation later. While this may seem like the logical decision to anyone claiming compensation, the second bite is not always available. Making the subsequent claim can only be done if the person’s health deteriorates in a specific way, or results in the development of a pre-determined and different health condition. For example, if the original claim is made due to asbestosis now, and mesothelioma is diagnosed later a claimant could make a second claim for the development of their new condition so long as it is included in the provisional settlement Order.
In short, a provisional settlement offers protection against the unknowns of the future. It is essentially an assurance that the claimant is protected if things get worse later – a particularly helpful thing if doctors can’t predict how a condition will progress in the future. That being said, provisional settlements often result in less money upfront compared to a full and final settlement. They also might not ever be capitalised on if the claimant’s health stagnates or improves with the development of treatment methods.
Which Option is Right for Me?
There’s no one-size-fits-all answer to this question. Each individual needs to consider multiple factors when making this decision including but not limited to their current diagnosis and medical prognosis, their personal and financial situation, and the benefit they and others may seek from the claim being brought to an end.
If you are nearing the end of your compensation claim it is really important to speak to your solicitor and treating medical team before making this decision. They can help you understand the medical risks, explain your legal rights, and make sure any decision is in your best interests—both now and in the future.
We’re Here to Help
At HASAG we can put you in touch with a solicitor who will make sure that you are properly advised. The HASAG legal panel is made up of 7 of the UK’s leading law firms who specialize in asbestos claims. They have vast experience and knowledge and have successfully claimed compensation for all manner of different asbestos cases. All of our recommended solicitors work on a “no win no fee” basis and will undertake a home visit to assess any claim and to provide advice without charge and without any obligation to proceed further.
