9 Fla. L. Weekly Supp. 111a
Insurance — Verdict — Reduction — Collateral source — Where high-low agreement between parties is silent as to issues such as set off for collateral sources and costs, despite fact that counsel for insurer argued before court at time of settlement that settlement would include “costs and everything,” insurer is entitled to a set off for collateral source payments paid to plaintiff
JEFFREY WOLFSON and JUDY WOLFSON, his wife, Plaintiffs, v. LIBERTY MUTUAL INSURANCE COMPANY, Defendants. Circuit Court, 17th Judicial Circuit in and for Broward County. Case No. 96-003429 (09). December 11, 2001. Robert Lance Andrews, Judge.
ORDER
THIS CAUSE having come before the Court upon the Defendant’s Motion for Set Off to Verdict of Collateral Sources Payments, and the Court having considered same, having heard argument of counsel, and being otherwise duly advised in premises, finds and decides as follows:
On October 5, 2001, a jury returned a verdict for $102,026.00 in past medical expenses, in favor of Plaintiffs. The parties entered into a “high-low” agreement prior to the verdict, whereby they agreed that notwithstanding the verdict of the jury, Plaintiff would be entitled to a judgment for damages in an amount of not less than $100,000.00 and no more than $500,000.00. At the time the agreement was entered into, counsel for Defendant argued that the settlement “includes costs and everything.” The Defendant now seeks to have $15,000.00 which was paid to Plaintiff by Liberty Mutual under its PIP and Med Pay provision.
“The very nature of a high-low” agreement is to guarantee that a plaintiff will recover a judgment in some amount, while reducing a defendant’s risk that the trier of fact will return an unexpectedly high verdict.” Thurman v. Mistovich, 735 So.2d 605, 606 (Fla. 1st DCA 1999). The parties are of course free to agree to whatever term they wish in the agreement. Id. In the matter sub judice the agreement is silent with respect to issues such as set off for collateral sources and costs, despite the fact that counsel argued before this Court that the settlement would include costs and everything. Therefore, Defendant is entitled to a set off for the collateral source payments paid to the Plaintiff.
Accordingly, it is hereby
ORDERED AND ADJUDGED that the Defendant’s Motion for a Set Off to Verdict of Collateral Sources Payments is GRANTED.
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