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NAIC suitability

Industry News

An Analysis of the Revised NAIC Annuity Suitability Regulation

April 8, 2020by Patrick Hindert
The National Association of Insurance Commissioners (NAIC) has recently voted to update its Suitability in Annuity Transactions Model Regulation (Model Number 275). States can use NAIC Model Regulations when developing their own laws but have no requirement to do so. Many states previously enacted laws based upon the NAIC’s original 2010 Model Suitability Regulation and most states are expected to quickly amend their laws to correspond with the...
Structured SettlementsIndustry News

An Analysis of the Revised NAIC Annuity Suitability Regulation

April 8, 2020by Patrick Hindert
The National Association of Insurance Commissioners (NAIC) has recently voted to update its Suitability in Annuity Transactions Model Regulation (Model Number 275). States can use NAIC Model Regulations when developing their own laws but have no requirement to do so. Many states previously enacted laws based upon the NAIC’s original 2010 Model Suitability Regulation and most states are expected to quickly amend their laws to correspond with the...
Structured SettlementsIndustry News

Let’s Talk About: Suitability and Settlement Planning

January 25, 2021by Patrick Hindert
The Society of Settlement Planners (SSP) will host its virtual 2021 Annual Conference for February 23-25 and has already announced the session topics and most of the speakers. One session which should provoke considerable discussion is titled “Suitability and Settlement Planning.” It appears to reference language in SSP’s Practice Standard #9 within the Settlement Planning Practice Standards (Practice Standards)...
Company NewsIndustry NewsResourcesStructured Settlements

Structured Settlements and Periodic Payment Judgments – Release 74

November 27, 2023by Patrick Hindert
First published in 1986, Release 74 for “Structured Settlements and Periodic Payment Judgments”  will be made available to subscribers this month by publisher Law Journal Press. Online subscribers will receive their update simultaneously with no additional subscription charge. “Structured Settlements and Periodic Payment Judgments” (herein sometimes referred to as “the book”) consists of 16 chapters...
Structured SettlementsSettlement Planning

Structured Settlements and the “Best Interest” Standard

July 14, 2023by Patrick Hindert
Should structured settlement and settlement planning professionals be required to act, or hold themselves accountable to act, in the “best interest” of a personal injury settlement recipient when making a structured settlement recommendation? And what would, or should, define “best interest” in that context? Best Interest Applied to Secondary Market Transfers “Best interest” is a...
Company NewsIndustry News

Achieving and Sustaining Structured Settlement Growth

January 19, 2023by Patrick Hindert
Premium Success in 2022 Propelled by record fourth quarter production exceeding $2 billion of annuity premium, which surprised many industry participants including this writer, 2022 structured settlement annuity production currently is estimated to have exceeded $6 billion. Congratulations to structured settlement professionals, annuity providers and other industry stakeholders who contributed to this success! As an...
Company NewsIndustry NewsStructured Settlements

Structured Settlements and Periodic Payment Judgments Release 71

February 22, 2022by Patrick Hindert
For many settlement planners and structured settlement annuity providers, the dominant storylines of the past two years have been COVID-19 (COVID), low interest rates and plummeting structured settlement annuity sales.  In 2019, based on industry reports, $6.47 billion of annuities were purchased to fund 26,486 structured settlement cases, for an average per case premium of $244,228.....
Company NewsIndustry NewsStructured Settlements

Settlement Planning Compensation Models

January 24, 2022by Patrick Hindert
With few exceptions, the topic of consultant compensation receives limited public discussion within the structured settlement and settlement planning communities. A quick review of the websites of three national associations whose members sell structured settlement annuities, NSSTA, AASC,  and SSP, appears to indicate only SSP even mentions the word “compensation.” The SSP references to “compensation”...
Government BenefitsIndustry NewsStructured Settlements

Soldiers vs. Scouts: The NSSTA 2021 Annual Conference

April 27, 2021by Patrick Hindert
In her new book titled “The Scout Mindset”, author Julia Galef, co-founder of the Center for Applied Rationality, utilizes a comparative military metaphor, “soldiers vs. scouts,” to contrast two antithetical types of mindsets and methods of reasoning. Metaphorically speaking: A soldier mindset causes an individual or a group to defend their beliefs against perceived threats, to seek out supporting...
Structured SettlementsStructured Attorney Fees

Let’s Talk About: Judges, Mediators and Settlement Planning

April 12, 2021by Patrick Hindert
Judges and mediators play important, but distinctive, roles in settlement planning. So it may have surprised some attendees that a recent Society of Settlement Planners (SSP) 2021 Annual Conference virtual presentation advertised as the “Judiciary Panel: Planning from the Court’s Perspective” featured two mediators (one a retired judge) and focused on mediation not judicial issues. Skillfully moderated...
Company NewsStructured Settlements

New Blog Series: Let’s Talk About…

January 19, 2021by Patrick Hindert
Let’s Talk About Conference season, albeit virtual, has officially kicked off with both the Society of Settlement Planners (SSP) and the National Structured Settlement Trade Association (NSSTA) announcing dates for their virtual 2021 Annual Conferences: February 23-25 for SSP and May 4-7 for NSSTA. SSP has already launched their conference website highlighting their agenda topics and speakers with a healthy mix of anticipated...
Structured SettlementsIndustry News

Structured Settlements and Periodic Payment Judgments Book Release 68

October 19, 2020by Patrick Hindert
Since it was first published in 1986, “Structured Settlements and Periodic Payment Judgments” (S2P2J), has provided structured settlement stakeholders with an authoritative reference guide, consisting of 16 chapters with extensive footnotes and Appendix documents, to help them understand historical development as well as current issues and fashion settlements and judgments utilizing periodic payments. Both the National Structured Settlement...
Structured Settlements

Developments in Structured Settlements: Conflict, Growth, Transition

October 27, 2019by Patrick Hindert
Developments in Structured Settlements: Conflict, Growth, Transition This is the third article (Part III) in a four part series of articles that explore the timeline of historical developments that highlight key events for the structured settlement market. Period One – Industry Formation Period Two – Market Foundation Period Three – Conflict, Growth, Transition Period Four –...
ResourcesStructured Settlements

Structured Settlements and Periodic Payment Judgement Book Release 66

October 25, 2019by Patrick Hindert
Structured Settlements and Periodic Payment Judgement Book Release 66 Since it was first published in 1986, “Structured Settlements and Periodic Payment Judgments” (S2P2J), has provided structured settlement stakeholders with an authoritative reference guide, consisting of 16 chapters with extensive footnotes and Appendix documents, to help them understand issues and fashion settlements and judgments utilizing periodic...

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