How does the insurance company decide how much to make its initial offer?

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How does the insurance company decide how much to make its initial offer?

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Typically, most insurance companies our attorneys deal with in Maryland accident cases use computer software to determine the value of auto and truck accident cases. The most prolific is one used by a number of companies called Colossus, designed by Computer Sciences Corp., a California based company that values accident cases for insurance companies. Colossus is reportedly used by more than 50 percent of the nation’s claims insurance adjusters. Many other insurance companies use a similar program. (Medical malpractice cases are an entirely different animal; almost every malpractice case begins in litigation.) Essentially, the insurance company does is it inputs the data it receives from your medical records, lost wages, the severity of the accident, and where the accident occurred. The computer will give a higher value for a case in Baltimore City or Prince George’s County than it would, for example, for the same case in Anne Arundel County. It also inputs the taxpayer ID number of yo