- The Gerring Law Firm
Can the insurance company auto-deposit my personal injury settlement?
In an ideal world, this would be great. Unfortunately, we are not there yet. Insurance companies must issue payments to the law firm first, and then we will issue payment to the client. To my knowledge insurance companies do not offer auto-deposit to law firms or clients.
It is probably for the best that things are done this way. Most settlement checks have the financial interest of multiple parties in them. Mailing paper checks leaves a solid paper trail that allows for easy accounting of where the funds went. Paper checks also provide time to correct in case an error is made. Logistically, I think auto-depositing would be a nightmare for insurance companies considering the cost of fixing mistaken deposits.