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Article: State legislatures enact structured settlement laws. (STATE BEAT).
- Article from:
- Claims
- Article date:
- November 1, 2001
CopyrightCOPYRIGHT 2001 Insurance Week, Inc. 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)
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Advertisements for companies offering to convert structured settlements into one-time lump sum payments seem to be everywhere on day time TV, giving truck driving school and Girls Gone Wild spots a run for their money in the race to put the most advertising revenue in the pockets of Jerry Springer and Ricki Lake.
This ubiquity, however, is beginning to be matched by the rapid growth of state legislation to protect payees from hard-sell factoring companies that pay as little as 13 percent of the total settlements. No less than 13 stares have passed laws in the past year mandating court approval of the factoring of structured settlements, bringing the total number ...