Many North Carolina workers’ compensation claims will ultimately settle by way of a “clincher agreement.” This is a compromised agreement or settlement between an employer, the insurance company and the injured worker.
In most cases, this involves a lump sum cash settlement and coverage of certain medical expenses in exchange for release of all future reliability against both the employer and the insurer. It’s imperative in these negotiations to ensure your attorney is actively involved in the process. These agreements are essentially contracts, and there could be lifelong implications. Workers have to be sure that not only are immediate and outstanding medical expenses will be covered, but future claims as well. That may require extensive medical analysis and an in-depth look at future costs.