|
|
Article: House Considers Structured Settlement Bill
- Article from:
- National Underwriter Life & Health-Financial Services Edition
- Article date:
- September 7, 1998
- Author:
CopyrightCOPYRIGHT 1998 The National Underwriter Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
TONY ATTRINO IS A STAFF WRITER FOR NU'S PROPERTY & CASUALTY/RISK & BENEFITS MANAGEMENT EDITION.
The House Ways and Means Committee is considering federal legislation to eliminate the market for purchasing the structured settlement payment streams of injured persons.
H.R. 4314 was introduced in Congress in July. It is sponsored by 16 committee members. Rep. E. Clay Shaw Jr., R-Fla., is the originating sponsor.
Rep. Shaw, who was vacationing and could not be reached for comment, has accused factoring companies-which pay lump sums to parties in return for rights to future payments under their structured settlements-of "directly undermin[ing] the policy of ...