Why a Defendant or Insurer Needs a Structured Settlement Expert
While structured settlements may be familiar to many corporate defendants, insurers and their counsel, utilization may not be effective or often enough to achieve the optimal effect on the underwriting bottom-line. Quality structured settlement advisers are licensed and credentialed professionals, advocates and facilitators of a complete solution to claims, dispute or lawsuit resolution that affects the bottom line of your company, clients, insureds or reinsureds.
Claims adjusters and counsel should consider a structured settlement expert who can collaborate with them as a team member, in lieu of strictly an annuity quoting source. From the standpoint of familiarity, most quality structured settlement brokers and settlement planners see more cases involving structured settlements than even the busiest risk managers, adjusters, claims personnel and defense counsel. Given the opportunity, creative and imaginative personalized input can be provided. Whether you are a risk manager, adjuster, claims personnel or defense counsel, early involvement in a case will enable your structured settlement broker to better assist you and your colleagues with collateral source analysis, assist in discovery to help identify areas of economic damages that can be mitigated using innovative techniques, measuring quantum in life care plans, make sure that fatal flaws to structured settlements are not made in settlement documents, and provide valuable input for your consideration. Some solutions for settlement resolution, such as the equity based variable income structured settlements require a level of technical expertise as well the appropriate securities and insurance licenses. Such settlement solutions are best presented, and may be required to be presented, by someone who is appropriately licensed.
The structured settlement remains vital as a core recovery management alternative for tort victims. This is because when done right, in its various forms, the structured settlement concept really works. People embrace the simplicity and certainty that structured settlements represent. It is worth noting that one of the reasons the there is a robust secondary market to buy structured settlement payments rights is the perception that it is a good investment.
While the industry has consolidated over the last 15 years in terms of the number of structured settlement annuity issuers, the structured settlement industry has expanded in sophistication through the emergence of settlement planning as a profession. Furthermore, innovative product developments, more complete education (that includes the Registered Settlement Planner and Master Structured Settlement Consultant designations among others), leads to more innovation, better education of judges and litigating parties and application for the concept and greater technological efficiency. Further the government printing press will eventually lead to rising taxes.