Other commentators have waxed toxic of their disdain for casualty company approved lists. So, having been given the appropriate "stimulus" I've decided to weight in.
One wonders what "dinosaur" of the structured settlement industry is advising a P&C company to remain nameless which today proffered, through its legal representative, to one of our readers, an approved list of "structured settlement annuity companies" that includes (among others):
American National Co.
Canada Life Assurance Co,
Canada Life Insurance Co. of America
Hartford Life and Annuity Ins. Co.
Massachusetts Mutual Life insurance (*)
MetLife and Annuity Co. of CT
Metropolitan Tower Life Insurance Company
Monumental Life Insurance Group
Pacific Life Insurance Company
Prudential Retirement Insurance & Annuity Co. (*)
Sun Life Assurance Co. of Canada
Sun Life Assurance Company of Canada US
Transamerica Life Insurance Company
It is unknown to this author what the significance of the asterisk is.
Some of these companies stopped writing structured settlement annuities YEARS AGO! Other companies NEVER wrote structured settlement annuities.
If you are with the unnamed insurance company, the legal representative that produced this list, the settlement consultant doing such a stellar job of keeping your client informed and you recognize this, DUDE, YOU NEED HELP!
If you don't want to look like, please take a look at this CURRENT list of Who Writes Structured Settlement Annuties and update YOUR list for goodness sakes.
For a good laugh (or cry) you can download the full approved list of "Yabba Dabba Doo" here Download Casualty Company Approved List
by Structured Settlement Watchdog
This in from one of our readers who alerted us to the following after reading yesterday's post Structured Settlement Annuity in One Wordy "Inarticulate Articulation"”
"This also from Settlementblog.net on what I thought was the seminal text on our industry:
“Structured Settlements and Periodic Payment Judgments” is a great book about the effects of “Structured Settlement Factoring Transactions“. The book provides readers with guidelines, procedures and definitions to help them transfer payments from their structured settlements.
The book has a total of 1050 pages, is written in English and has a weight of 10.04 ounces, it can be bought from amazon.com at the price of $279.00 and ships in 1-4 weeks.
Ironically, one of the co-authors of the text is a former President of the NSSTA and serves on the association's legal committee. He is also a member and former Executive Director of the Society of Settlement Planners. Neither the co-author of the seminal text, nor the two trade associations have publicly addressed the subject of servicing of structured settlement payments by factoring companies and whether (or not) a financial impairment or bankruptcy of the servicing factoring company would negatively affect applicable structured settlement payees.