On this weeks Speaking of Settlements , a Legal Broadcast Network channel underwritten by Wahlstrom & Associates, we are joined by Mike Kelly, the current President of NSSTA, (National Structured Settlements Association) and one of the co-founders of Structured Financial Associates, FSA.
In this wrap up of the year in review, Mike looks at the rebound of structured settlements as the financial markets recovered from the trauma of the 2008 and 2009 credit crisis and how the industry has just about regained its prior size of $6 billion annually in new premium written.
Structured settlements are an integral part of the litigation, insurance and mediation landscape, with a solid backing from Congress and state legislatures. However, as 2011 enters with a new congressional make up, as well as budget and tax pressures on the Federal level, members of the industry need to be vigilant that the tax free payment of structured settlements is protected and preserved for the most vulnerable of our citizens. As Mike explains through some illustrations of actual cases, the mission of the structured settlement trade association has been and will remain one of protecting injury victims ability to use structured settlement annuities to maintain their financial dignity after a personal injury settlement or verdict.
We look forward to having Mike Kelly back again, as well as other NSSTA officers and administrators on Speaking of Settlements during 2011 to keep our viewers and industry professionals up to date on developments, news and legislative issues.