Aviva departs the structured settlement profession

Attached is this weeks edition of Speaking of Settlements, in which I discuss the decision by Aviva to depart the structured settlement market.

Obviously this is a big deal to our industry, particularly given the earlier departures of Genworth, Mass Mutual, AEGON and ING over the past few years. Couple this with the fact that there are virtually no life markets interested in getting into the market and a general lack of push and vitality by NSSTA to build the profession, we are looking at the likelihood our choice of markets will contract even further.

This is a big time wake up call to the profession and it's time to start thinking outside the box and create some dynamic awareness of our product, our profession and it's value or a lot of the brokers in this business are going to be facing the same decision to get out of the profession.

Posted on December 20, 2008 and filed under AVIVA.