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June 05, 2009

Qualifed Assignment Company for AIG Structured Settlements in New York Changed

by John Darer CLU ChFC CSSC RSP

The qualified assignment company for structured settlements funded with annuities issued by AIG's New York life insurance subsidiary will change to American General Annuity Service Corporation (AGASC) effective July 1, 2009.

The change is primarily relevant to New York structured settlements.

Structured settlements funded with annuities issued by American International Assurance Company of New York (AI Life) that are in force or are pending but locked in or funded prior to July 1, 2009, will not change and will remain with National Union Fire Insurance Company of Pittsburgh, PA (for old AIG or AIU Holdings claims where the insurer was American Home Assurance Company) or American Home Assurance Company (AHAC) for others.

AGASC is a stand alone special purpose assignment company whereas the soon to be previous assignees are property and casualty insurers. AGASC is already the qualified assignment company for stuctured settlements funded with annuities issued by American General Life Insurance Company.

Postscript

What is a Qualified Assignment

 

Posted at 07:16 PM in AI Life Structured Settlements, Albany New York Structured Settlements, American General Annuity Service Corporation, American General Structured Settlements, American Home Assurance Company, American International Assurance Company of NY, Bronx New York Structured Settlements, Brooklyn New York Structured Settlements, Buffalo New York Structured Settlements, Corebridge/American General Structured Settlements, Insurance Company News, Kings County Structured Settlements, Long Island NY Structured Settlements, Nassau County Structured Settlements, New York City Structured Settlements, New York Structured Settlement Practice, New York Structured Settlements, Newburgh Structured Settlements, News About Structured Settlements, NYC Structured Settlements, Qualified Assignment, Qualified Assignment Company, Qualified Funding Asset, Rochester Structured Settlements, Settlements in Queens County New York, Staten Island Structured Settlements, Structured Annuity, Structured Settlement Annuity, Structured Settlement Markets, Structured Settlements, Structured Settlements New York, Suffolk County Structured Settlements, Syracuse Structured Settlements, Westchester Structured Settlements, White Plains Structured Settlements |

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Guide to Structured Settlements 2023

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    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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  • What Are Structured Settlement Annuities?
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  • History of Structured Settlements
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Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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