OK, you've got a bunch of bad ideas. Seriously, they're all bad.
I work in insurance, specifically casualty insurance, and auto insurance falls within that definition. I know what I'm talking about.
You can talk to the corporate insurance folks about paying this yourself and see what they say. They're just going to look to fix the car. See what their estimate is. If you think it's fair, then pay it. If you don't, then file the claim with your insurance company.
By the way, you are running a very real risk of having your insurance company deny the claim by not reporting it. There is a clause in your policy (in all policies, actually) that basically prevent this sort of thing, which can lead to fraud pretty easily. And if the other guy was actually injured but didn't realize it (i.e. closed head injury), you could be in some deep shit. From what you described, I doubt that it's much to worry about in this particular case, but that's your worst case scenario - big injury and a denied claim because you were playing games.
And the adjuster for the other guy's company has the right to demand proof that you're insured. And then to use that information to report the claim himself. It's perfectly legal, and potentially the ethical thing for him to do so that it doesn't look like he's taking advantage of you - which he actually could if he's a dirtbag.
Good luck.
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