In this week’s episode, Michael Cowen and Malorie Peacock discuss the importance of accurately valuing personal injury or wrongful death cases.
They recommend lawyers form groups to discuss and share insights on case valuation, using a carefully curated form to identify critical factors influencing a case’s value.
The round table can also provide a more confident and persuasive stance when negotiating with insurance companies or at mediation. Michael and Malorie emphasize the importance of determining when a case is ripe for settlement and the need for sufficient information to be gathered before engaging in negotiations. They challenge the notion that sending a demand letter makes a lawyer look weak and highlight the importance of considering all relevant factors, such as medical bills, potential for future treatment, insurance coverage, and the likelihood of winning at trial.
Case valuation is an art that requires careful analysis and consideration of all available information. The attorneys also encourage lawyers to form mastermind groups to share ideas and perspectives on cases, improving their knowledge and skills.
Name: Malorie J. Peacock
About: Malorie J. Peacock is a Partner at Cowen Rodriguez Peacock. She was born and raised in San Antonio, Texas and received her J.D. from the University of Houston Law Center. During her time with Cowen Rodriguez Peacock, Malorie has worked on numerous commercial vehicle, trucking, and wrongful death cases. Malorie brings close attention to detail, commitment to finding safety issues and areas of neglect, continued utilization of technology and cutting-edge visuals in cases, along with a sincere passion to help those who have been hurt, to each and every case.
Company: Cowen Rodriguez Peacock
[01.11] Accurately valuing personal injury cases: The hosts emphasize the importance of accurately valuing personal injury cases to ensure that clients receive fair compensation for their injuries.
[06.12] Considering all relevant factors in case valuation: Correctly valuing a case requires considering all relevant factors, including liability, damages, insurance coverage, and potential jury verdicts
[08.11] The importance of gathering sufficient information: Engaging in settlement negotiations without adequate information can result in missed opportunities, undervaluing or overvaluing a case, and a less favorable settlement outcome
[11.07] Challenging the notion that sending a demand letter is weak: Sending a demand letter can be a powerful negotiation tool that can demonstrate a lawyer’s confidence in their case and their willingness to fight for their client’s rights
[20.23] The round table approach to case valuation: The round table allows for a more comprehensive analysis of a case and helps lawyers prepare a stronger negotiation strategy.
[30.41] Improving knowledge and skills through mastermind groups: The hosts encourage lawyers to form mastermind groups for improved knowledge and skills. They discuss the benefits of collaborating with other lawyers and provide tips for finding or creating a group.
[32.39] Using a carefully curated form to identify critical factors: Using a carefully curated form to identify key factors can help lawyers systematically and objectively evaluate a case’s strengths and weaknesses, which can lead to a more accurate valuation.
[36.43] The benefits of sharing knowledge within the plaintiff’s bar: Plaintiff attorneys shouldn’t see each other as competitors but rather as colleagues who can collaborate and share knowledge to improve their skills and the quality of legal representation for their clients.
Connect with Trial Lawyer Nation
In this popular and award-winning podcast for trial lawyers, noteworthy author, sought-after speaker, and renowned trial lawyer, Michael Cowen explores critical topics distinctive to the legal profession with some of the biggest names in the industry – specifically focused on developing extremely efficient law practices, securing a competitive edge in the industry, and wildly excelling in the courtroom.