When the workers’ compensation insurance company and the injured worker (and possibly their attorneys) reach an agreement for a Virginia workers’ compensation settlement, the Virginia Workers’ Compensation Commission will oversee the settlement and must approve it for it to become final. Virginia Code Section 65.2-701 requires that ALL Virginia workers compensation settlements be filed with the commission for approval.
In order for this to happen, both parties have to give a sizeable amount of information to the Commission so that they can evaluate if the settlement is in the interest of the injured worker. However, remember, the Commission cannot give injured workers legal advice. The Commission will often ask for updated medical records showing the injured workers’ current medical status, their ability to return to work (if any), and documentation showing that the injured worker is capable of handling the settlement funds (how you plan to use the money).
If the proposed workers’ compensation settlement agreement is not approved by the Commission, the settlement is voided and the injured worker will likely be advised to consult an attorney.
Consult an experienced Virginia workers’ compensation attorney to ensure you are receiving a fair settlement that the Commission will have no problem approving!
The Injured Workers’ Law Firm is a Richmond, Virginia based firm solely focused on serving clients with workers’ compensation claims in Virginia. If you have questions about your benefits or if you would like more information on the Virginia workers’ compensation system, order our book, “The Ultimate Guide to Workers’ Compensation in Virginia,” or call our office today (804) 755-7755.