What are the procedures if someone wants to settle a case?

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My lawyer sent my landlord a letter saying that i got injured on his property due to his neglience. And im seeking for my pain& suffer and med. bills. And whatever else the letter contained in it. The landlord isnt fighting because he know it was his fault for leaving a six inch pipe out of the ground for so long without fixing it. But the landlord kindly ask me not to sue him for a million dollars because he will lose everything. But my lawyers have to wait until im done with surgery and physical therapy. After im done with that what would the procedures be after that? Would my lawyer contact him and his insurance company? Anyone have any experinece in this or was in the same situation? But since the landlord know he is wrong and he isnt putting up a fight. Will the insurance company not put up a fight as well if they clearly see it was his fault and neglience?