Settling a six figure personal injury case in an hour probably seems impossible to those in the legal profession who have not yet enjoyed the benefits of First Court's 1 Hour Mediation.
Everyone involved in a lawsuit has some incentive to settle before the end of the year. Whether it's holiday closure (and cash) for injured parties, cash flow and tax benefits for law firms, or cleaning up the books for insurance carriers - our clients of every type tell us this time of year is a good inflection point to try to resolve open cases.
Any lawyer or insurance professional who has spent time attempting to settle a case through traditional mediation (both parties working with a mediator at the same facility) has likely been frustrated. It is difficult to find a day and time when all parties can meet. It is inconvenient to spend a day (or days) away from the office and life at home. It is expensive. But, perhaps most frustrating, it is inefficient. Between the posturing and delays, parties often leave mediations with little to show for their efforts.
It's difficult for negotiators to evaluate their case objectively. We recognize the challenge, but want to recognize - and reward - the very best, most objective negotiators. What is the one objective measure of the “true” value of a case? The final award or settlement amount! Therefore, when a case is resolved, we compare the last number each negotiator tested in the Thermometer to the final settlement number; that gives us an objective rating number showing how well that negotiator evaluated and tested that particular case.