A negotiated agreement that resolves a group of similar claims held by one law firm or defendant at the same time, usually as part of a larger mass tort or coordinated litigation.

Instead of settling one injury case at a time, an inventory settlement deals with an entire "inventory" of pending claims, often involving the same product, drug, device, or exposure. For example, if a firm represents many people hurt by the same dangerous product, the defendant may offer a package deal with set payment rules, medical criteria, or injury tiers. That can speed up compensation, but it can also pressure people to accept a formula that may not fully reflect their own pain, treatment needs, lost wages, or future complications.

This matters fast because inventory settlements often come with deadlines, release forms, and proof requirements. Missing medical records, delayed diagnosis evidence, or incomplete work-loss documentation can reduce a payout or knock a claim out entirely. In Kentucky, timing can be critical because most personal injury lawsuits are controlled by KRS 413.140, which generally gives one year to file, though the exact deadline depends on the facts. If a claim involves truck crashes on corridors like I-65 or exposure linked to heavy freight activity around Louisville, an inventory settlement may affect whether a person keeps the right to sue individually, join broader litigation, or accept a grouped resolution before that right expires.