Texas Legislature Modernizes Structured Settlements Statute Independent Life Insurance Company (Independent Life) is excited to report Texas Statute HB 3771 is now law, having passed the House with a vote of 146-1, the Senate with a vote of 31-0 and being signed by the governor on June 8, 2019. This amends Property Code sec. 142.009 to update the...
Drinker Biddle Structured Settlement and Annuities Roundtable The Drinker Biddle law firm Structured Settlement and Annuity Team introduced a new educational model last week when it hosted a one-day, invitation-only Structured Settlement and Annuities Roundtable at its Philadelphia office. Drinker Biddle promoted the roundtable as “three substantive sessions on pressing issues facing the structured settlement industry and its participants,...
What is public policy and why is it important for structured settlements? One definition of public policy is “the broad area of government laws, regulations, court decisions, and local ordinances as enacted by federal, state, and local governments.” That comprehensive definition encompasses all federal and state laws, regulations and court decisions that have impacted structured settlements since...
Reviewing Structured Settlement Educational Programs – Spring 2019 Does the National Structured Settlements Trade Association (NSSTA) need to re-think and re-design its educational programming and educational marketing to strategically position structured settlements as the core product within personal injury settlement planning? Or is NSSTA already doing so? We introduced these questions in a prior Independent Life Chronicle blog post. Based...
Benefits of Structured Settlements Today in the context of industry change and the need for industry growth, what exactly are the benefits of structured settlements? And will marketing those benefits be enough to ensure the future success of the National Structured Settlements Trade Association (NSSTA) and the structured settlement market? NSSTA President Michelle Caine highlighted the strategic importance of these...
Knowledge: A Strategic Factor in Structured Settlement Growth He has demonstrated “how knowledge can function as a driver of long-term economic growth” – The Royal Swedish Academy of Sciences, in awarding Paul Romer a 2018 Nobel Prize in Economics. —————- During the most recent annual meeting of the National Structured Settlement Trade Association (NSSTA), which occurred...
Why the Market Needed a New Non-Qualified Structured Settlement Plan Structured settlements are typically associated with physical injury, sickness, wrongful death or workers’ compensation claims. In these cases, the tax code allows the claimant to receive income tax free compensation for their injuries, spread over time, from a trusted life insurance company via a §130(c) qualified assignment but...
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