A look at personal injury law and the personal injury lawyer market

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In recent years, the size of the personal injury lawyer market has actually grown at a faster rate than the population growth of the United States of America. The overall personal injury law market size was worth $ 32.5 billion in 2019 and is expected to continue to grow at a rate of 1.3% throughout the 2020s.

At present, there are approximately 56,605 law firms practicing in this area of ​​law – one of the best of them being Jividen Law Offices, PLLC. Personal injury law is a huge industry for the job market, with more than 130,979 Americans working in it across the country.

So it is clear that this is most certainly an exciting time to be a part of this area of ​​law and with so much going on and with so many people involved, it is only expected that many people will ask themselves. many different questions about personal injury law. Marlet. To help shed some light on the industry, we’ve attempted to answer some of the most frequently asked questions about it.

What is the size of the United States personal injury law market?

A short answer to this is that it is a very large market. Each year in America, approximately 37,000 people die from car accidents. On top of that, somewhere in the region there are 2.35 million people injured as a result of car accidents.

Turning the focus away from traffic accidents, there are somewhere between 108,000 and 250,000 medical negligence deaths in America each year. Falls and slips account for approximately 8,000,000 emergency room visits each year.

These numbers show exactly the size of the personal injury law market in the United States. As a result, the number of personal injury lawyers has grown significantly over the years, with 93,000 legal professionals operating in the country.

What is the cost of hiring a Personal injury lawyer?

The fee structure and amount of fees vary from lawyer to lawyer, although the vast majority of them operate on a contingency fee system. This means that they will only take part of the settlement that is granted to you. Since the personal injury attorney’s fees depend on their victory in the case, they are not paid if they fail and will therefore do their utmost to succeed and win the case.

The amount for contingencies varies between 20 percent and 45 percent, depending on the individual lawyer. It doesn’t affect the amount of money that is awarded as part of your settlement – so the 20 percent fee could be a 20 percent reduction of $ 1,000 or $ 10,000.

In the vast majority of cases, personal injury lawyers also charge a disbursement fee, although some lawyers include this cost in their contingency fees.

How much do bodily injury claims pay?

There are a number of things that can affect the settlement amount of any personal injury claim. These include the severity and nature of the injuries sustained and the time required to recover from them; how much money was lost due to damage or loss of income; how the injuries sustained impacted work or a career; how the incident impacted the ability to do any kind of recreational or sporting activity.

Taking all of these into account, the payment amount for a personal injury claim can range from $ 1,000 up to over $ 1,000,000. Those two numbers are of course the extremes – the average is actually around the $ 65,459.99 figure. The vast majority of payments are made without having to go to court, with the figure increasing dramatically when a personal injury lawyer is hired to handle the case.

However, it should be noted that in about 30 percent of all personal injury claims that are made, no financial compensation is awarded to the victim.

What are the qualifications required to become a personal injury lawyer?

In order to be able to practice as a personal injury lawyer in the United States of America, a person must first have graduated from a faculty of Law which has all the required accreditations. They must also have passed the bar exam for the particular state in which they wish to operate. Anyone who meets all of these requirements can work as a personal injury lawyer – no specialist training or certification is required.

That is why, when looking to hire a personal injury lawyer, it is important to ask them about their previous experience in handling these types of cases rather than just looking at what qualifications they have.

How many cases do personal injury lawyers handle?

This number varies considerably from lawyer to lawyer. Elements that may have an impact on the number of cases handled at a given time include the size of the law firm and the human and financial resources available to it; how skilled and ready to work the personal injury lawyer is.

Considering all of these things, the average typically deals with between 20 and 60 separate cases at the same time. However, as with everything, there are always exceptions to this – some personal injury lawyers dealing more and others less.

The number of cases that they currently have pending is an important thing to determine before hiring a personal injury lawyer because being scattered is not good for the success of any case.

Posted on May 17, 2021


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