by Mike Sharkey
Staff Writer
Peek, Cobb, Edwards & Ragatz partner Tom Edwards is bracing for what could become a legal battle between the insurance companies and those seeking monetary judgments from the insurance companies.
So sure is Edwards things will get interesting, he recently held a “lunch and learn” for any attorney interested in learning how to deal with claims with excess potential. About a dozen attorneys attended the first lunch meeting at the Peek, Cobb offices on Riverside Avenue.
Edwards explained that excess potential is the difference between what the insurance is obligated to pay and, for instance, an injured person’s medical bills. He said these type of claims are predominantly found in personal injury cases.
“Let’s say you are in a really serious automobile accident and you have $250,000 worth of medical bills, but the policy only covers $25,000. Who covers the other $225,000?” he said.
Edwards said often unless the injured party — who perhaps shouldn’t be paying at all — is covered, the rest of the bill is picked up by the taxpaying public in the form of Medicare, Medicaid and other forms of payment. “The lunch and learn was to teach attorneys how to manage these types of claims and how to deal with the insurance carrier.
“The carrier’s responsibility is not to the injured party, it’s to who they insure. Meanwhile, the lawyer’s responsibility is to the injured party. So, you are walking a tightrope.”
Edwards said he would like to host the lunch meetings quarterly with each one focusing on a different area of law that is either obscure or needs clarification. He said one attorney that attended the recent meeting did ask if Edwards would go to their firm and talk to all of the attorneys in the office.