Q:

Doesn't the Insurance Company HAVE to Give me a Fair Settlement for my Personal Injury Case?

A:

In a word - NO.  There is no law that requires insurance companies to "fairly" compensate you for your personal injury case.  Insurance companies exist to turn a profit.  The cheaper they settle claims, the better their profit.  Don't believe me?  Check out this article describing how Florida tried to ban Allstate from doing business in the state for their claims handling practices.

The article further talks about how Allstate has been fined for refusing to turn over certain "secret" documents describing their claims handling process.  Purportedly the documents include claims handling tactics such as discouraging claimants from hiring attorneys and making low-ball offers to claimants in the first 90 days after an accident when money is tight.

Unless you really know the law as it relates to personal injury claims (or hire a lawyer who does) you truly have no way of knowing if the settlement offer you are receiving is fair.