Litigation

Yesterday's Insurance Journal reported on a study, commissioned by Fireman's Fund Insurance Co. and conducted by Opinion Research Corporation (ORC), that polled adults with more than $1 million in investible assets. It concluded that the wealthy are primarily concerned about the safety of their family, but they also have significant concerns about the protection of financial assets such as stocks, bonds, real estate and other investments. The moderately affluent, those with $2 million to $5 million in investible assets, are the most concerned.

Both studies confirm the role insurance agents can play in the process of managing risk and alleviating the concerns of the affluent, according to Fireman's Fund. The ORC research revealed that about 50 percent of those surveyed turn to an independent insurance agent for guidance, with 67 percent of those in the most affluent group being more likely to turn to an agent for advice.

More than two-thirds of those surveyed in a 2007 survey  of Affluence and Wealth in America, by Harrison Group and American Express Publishing said that they follow the advice of their insurance agent, and 75 percent are satisfied with their insurance agent.

Competent settlement planners and legitimate structured settlement brokers (a.k.a "the creation side) , most of whom ARE licensed insurance agents or brokers, clearly have opportunities to work in a leadership or "quarterback" role with structured settlement and settlement planning stakeholders and beyond on a wide variety of issues.