Motorcyclist At Fault Is Suing Me

I made a left-turn on a flashing green light with oncoming traffic. As I was clearing the turn, I saw a motorcyclist in the distance and was confused because he seemed to be going faster vs. slowing down. Then, I heard and felt a crash near the rear right panel of my van. My van was totaled and the motorcyclist was severely injured. At the scene, he confessed to a firefighter who was nearby that he had been speeding. Police showed up moments after and cited him for speeding. The police's crash reconstruction expert assessed that he was at fault. I was not cited. Now months later, I find out the motorcyclist is suing me for a million dollars, recanting his admission of speeding and claiming he has witnesses to attest to his not speeding. He also claims that he has crash reconstruction experts of his own, saying it was my fault.

My question is: how is it his "experts" and "witnesses" can find such contradictory information from the incident? I understand his admission of speeding on the scene is heresy, but how do I know these witnesses aren't just friends of his? Doesn't the police take a record of who was actually there? I have followed the necessary steps of speaking with my insurance company who is going to negotiate with the motorcyclist and his lawyers with a possible pay-out. However, I've been warned that he has incurred $300K of surgery expenses and may need an additional surgery and therefore, is wanting a bigger pay-out than what my insurance company has under my policy.

In addition to my insurance company possibly hiring an attorney on my behalf, I am told I should hire an attorney to counter sue for damages because my van was totaled and I had to go out-of-pocket to replace it.

I'm quite worried about this and wonder if it will go to trial if my insurance company and his attorneys aren't able to reach an agreement.

If you have any advice to share, I'd greatly appreciate it. Thank you.

Location: Oregon