Need help with wording of Settlement Release Paperwork

[virginia22]

What is the name of your state? Virginia

I was injured in a car accident in April 2005. I am trying to settle with the other driver's insurance before the statute of limitations is up. They sent me a "release and settlement of claim" yesterday so I could read it over. I am concerned about two sentences in it.

Can you all tell me what you think or what you think it is getting at?

Here is some other related background info: I have been having my medical bills paid for by the med pay on the driver of the car I was in insurance. I was the passenger in somebody else's car when injured.

I want to make sure that I cannot be required to pay anything back to the insurance company who has been paying for my medical bills after I settle with the other insurance.

Anyway, here is the wording:

"Releasors do hereby agree to indemnify and save harmless the said Insured and The Hartford from all further claims or demands, costs or expense arising out of the injuries or damage sustained by Releasors. It is further agreed that in the event other parties are responsible to Releasors for damages as a result of this accident, the execution of this Release and Settlement Agreement shall operate as a satisfaction of my claim against such other parties to the extent of the pro rata share of the parties herein released."

 

[ecmst12]

I don't know about that wording, but I do know that the way to find out whether you will have to pay back the driver's auto insurance company out of your settlement is to ASK THEM. Preferably, of course, before you agree on a settlement amount.

 

[moburkes]

It is saying that you, the releasor will not hold the insurance company or the at fault party reponsible for further damages AFTER the form is signed (for whatever reason). It then states that if other parties (besides the 2 listed above) are responsible for your damages, you cannot sue them either.

It is a standard release.