http://www.thesettlementchannel.com/settlement-industry-news/What's happening in the Settlement IndustryThe Settlement Channelen-USSquarespace Site Server v5.11.81 (http://www.squarespace.com/)Jar Jar BinksMon, 03 Sep 2007 14:16:09 +0000http://www.thesettlementchannel.com/settlement-industry-news/2006/5/9/symetra-v-rapid-settlements-ltd.html#comments25785:203199:comment/977791JackThu, 30 Aug 2007 20:07:42 +0000http://www.thesettlementchannel.com/settlement-industry-news/nssta-board-retains-new-management-firm-for-nssta-operations.html#comments25785:203199:comment/973534The Settlement ChannelSun, 05 Aug 2007 16:03:53 +0000http://www.thesettlementchannel.com/settlement-industry-news/2007/4/2/hartford-financial-services-ends-3-commission-program-on-internal-cases.html#comments25785:203199:comment/939486MartyFri, 03 Aug 2007 19:14:34 +0000http://www.thesettlementchannel.com/settlement-industry-news/2007/4/2/hartford-financial-services-ends-3-commission-program-on-internal-cases.html#comments25785:203199:comment/937827The Settlement ChannelSat, 07 Jul 2007 17:49:12 +0000http://www.thesettlementchannel.com/settlement-industry-news/2007/4/2/hartford-financial-services-ends-3-commission-program-on-internal-cases.html#comments25785:203199:comment/899255
If you stroll through the exhibits at any trial lawyer event you will find that the biggest exhibitors now are probably in this order:

1. Trial lawyer finance companies.

2. Legal and court room technology.

3. Factoring firms.

4. Trust Company/Medicare Medicaid experts.

5. Structured settlement firms.

One of the things that struck me at the last Mass Torts conference is how few structured settlement firms were exhibiting compared to prior years. I think you will see a similar drop off in the AAJ convention as well. The primary reason? You don't get much back for your time and money at convention events if you are in the structured settlement arena, and unless you are one of the major donors and spenders you are stuffed in the back of the hall or some minor traffic area and end up looking like some poor insurance peddler.

As for the factoring and legal finance companies, thats where the real money is being made right now, as the margins on the loans typically run between 18% and 30% for legal finance firms, and margins on factoring pretty much in the same range.

If anyone can do a "head count" of the exhibitors and post it after the AAJ convention it might be interesting to see how many from each industry is there and how big the booths are.

As to your obviously tongue in cheek comment on the bastions of honor and integrity, the sad fact is both sides typically compromise both honor and integrity if enough cash is put on the table. What both sides should be considering is the best interest of the claimant and the integrity of the annuity product. Too much advertising and promotion needlessly slams the product and industry, with the net effect that our prospective clients are poisoned on the concept before we even reach them. ]]>JackSat, 07 Jul 2007 02:25:19 +0000http://www.thesettlementchannel.com/settlement-industry-news/2007/4/2/hartford-financial-services-ends-3-commission-program-on-internal-cases.html#comments25785:203199:comment/898718The Settlement ChannelWed, 04 Jul 2007 15:10:59 +0000http://www.thesettlementchannel.com/settlement-industry-news/2007/4/2/hartford-financial-services-ends-3-commission-program-on-internal-cases.html#comments25785:203199:comment/895796
I'm going to be doing a prolonged post on this topic as I get more information. What bothers me is what appear to be a culture of corruption at Hartford that has now resulted in this case, the issues with the 1%/3% structured settlement in house deal and the prior group annuity case where they were slapped for paying incentives to brokers to steer business when their rates weren't competitive.

All the players in this disgusting case deserve jail time for what occurred and I'll be following it closely. ]]>RichardThu, 28 Jun 2007 21:50:21 +0000http://www.thesettlementchannel.com/settlement-industry-news/2007/4/2/hartford-financial-services-ends-3-commission-program-on-internal-cases.html#comments25785:203199:comment/889066
HOUSTON—A federal indictment accuses two former claims handlers for Hartford Insurance Co. of accepting kickbacks and bribes from a Texas attorney representing plaintiffs with silica-related health claims against Hartford policyholders.


The indictment, unsealed Wednesday in Houston, also names attorney Warren Todd Hoeffner, a partner in the Houston office of Hoeffner & Bilek L.L.P.


It alleges that Connecticut residents Rachel Rossow and John Prestage, who worked in Hartford’s Claims and Legal Management Services department handling general liability claims, and Mr. Hoeffner induced Hartford to pay $34 million to settle health claims against companies that manufactured products containing silica.

Hartford referred the case to prosecutors, according to a statement from the U.S. Attorney’s Office.


The three are accused in the 14-count indictment of conspiracy, mail fraud, wire fraud, conspiracy to commit money laundering and money laundering.


According to the indictment, the claims managers received more than $3 million between February 2002 and November 2004 for recommending that Hartford settle. Each also allegedly received a BMW from Mr. Hoeffner.

Mr. Hoeffner received more than $5 million of the settlement funds for attorney fees, the indictment alleges.
]]>JackMon, 18 Jun 2007 12:17:51 +0000http://www.thesettlementchannel.com/settlement-industry-news/2006/9/14/thoughts-on-genworth-financial-exit-from-the-settlement-annuity-market.html#comments25785:203199:comment/868762
http://communities.canada.com/nationalpost/blogs/tradingdesk/archive/2007/06/06/manulife-prepared-for-large-u-s-acquisition-analysts.aspx

Another buyer for the lackluster (according to the company president) Allstate Life?]]>The Settlement ChannelWed, 16 May 2007 20:05:55 +0000http://www.thesettlementchannel.com/settlement-industry-news/2006/9/14/thoughts-on-genworth-financial-exit-from-the-settlement-annuity-market.html#comments25785:203199:comment/826090
However, I've got to say their lack of investment in Structured sales has been discouraging to say the least. There is a market aching for some leadership, PLR, Revenue ruling, marketing to real estate and tax professionals, but it is languishing due to lack of PR.

The bottom line is that our entire industry is " in Play" and that any company could be purchased or sold. ]]>