Assuming all settlements are done within insurance,
all payments are done by insurance companies.
Say you are at fault 100% and you bought comprehensive
policy,
Your insurance company will pay for both your damage and the fella
you ranggar, though you may have the option of not claiming your
portion for the sake fo next year's premiums
If on 3rd party policy, your company will pay the other fellas
damage while your own damage you cover from your own
pocket