by Structured Settlement Watchdog®
A representative of SSQ sent the email reproduced below to a casualty insurance company executive only hours ago, in which she offered money, on behalf of SSQ since proven in 2015 (following the conclusion of a lawsuit) to be a Genex Capital company), in exchange for information that is private; that the insurance executive does not have the right to give out. Ms. Newton represents in the email that she is writing on behalf of Structured Settlement Quotes, an on-line structured settlement purchasing intermediary with an office stated to be in Hartford CT.
The content of the email represents yet another reason for legislators and attorneys general to investigate factoring company solicitation practices .
From: [email protected] [mailto:[email protected]]
Sent: Tuesday, July 17, 2012 12:30 PM
XXXXXXXXXXXX
Subject: Structured Settlement Quotes - The Settlement Marketplace
Hi XXXXXX
My name is Lisa Newton and I am writing to you on behalf of Structured Settlement Quotes (SSQ) to inform you of an opportunity to both help your clients, as well as earn a “Thank you” fee.
While those who receive a structured settlement hope to never have to cash it out, for a small percentage of your clients it is simply unavoidable. Here is where SSQ can help.
SSQ is an Online Marketplace dedicated to getting annuitants the Most Cash for their structured settlement payments.
Here’s how it works:
1. Your clients provide SSQ with the payments they wish to sell.
2. SSQ shops these payments to its large network of pre-screened Certified Funders WHILE keeping personal information confidential.
3. SSQ’s Certified Funders then compete to get your clients the Highest Price for their settlement.
4. If your client chooses to proceed SSQ will assist with the transfer, ensuring they are paid quickly.
5. We work for the annuitants, not the funding companies.
I look forward to telephoning you later in the week to introduce myself and answer any questions you may have.
Best regards,
Lisa Newton
Structured Settlement Quotes
100 Pearl Street
14th Floor, Hartford, CT 06103, USA
_________________________________________________________________________________________________________
FURTHER COMMENTS
Note that the name of the insurance company executive and the target insurer has been redacted. This author has a copy of the unredacted version and a copy resides on the servers of the insurance company. This author has additional information that a similar email has gone to others who have knowledge of where structured settlements have been placed.
1. Ironically on April 29, 2012 SSQ posted on its blog "SSQ Investigates unsolicited letters from factoring companies" in which it states it has"learned what it considers to be a disturbing trend in the structured settlement and annuity factoring industry"
2. I know that state and federal governments have a lot on their plates these days but c'mon! Do attorneys general REALLY accept that we have factoring operatives offering money to attempt to corrupt a insurance executive, whose company is duty bound under strict state and federal laws to protect the privacy of its insureds, including structured settlement annuitants.
3. Fortunately the insurance company executive has ethics.
POST SCRIPT
In early 2014 a competitor of Genex Capital , Woodbridge Structured Funding filed suit against Genex Capital Genex Strategies and SSQ, alleging it was "nothing more than a fraudulent and deceptive scheme..." designed to benefit Genex. Genex Capital attempted to conceal it ownership of SSQ from May 2012 until June 2015, when it became apparent that it was muscled into doing so by Woodbridge as part of the settlement of that litigation.
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