Litigation

Oregon Insurance Division of Department of Consumer and Business Services Urges Caution to Policyholders, Agents and Brokers on The Communication of Misleading Information Concerning AIG

Posted on September 26, 2008
Following on the actions of other state insurance commissioners the Oregon Insurance Division of Department of Consumer and Business Services stated in a September 24, 2008 press release that: "AIG's insurance companies are financially sound, with substantially more in assets...

Factoring Industry Wordsmiths-"Liquidity" vs "Cash Now" vs "All Your Money Now"

Posted on September 26, 2008
Settlement Capital Corporation, a Dallas, TX based factoring company employs a refreshing alternative marketing approach in describing the services it offers to consumers. Instead of the serial false advertising practiced by a number of "cash now pushers", Settlement Capital states...

Hong Kong Police Make Arrests For Spreading False Rumors About AIG

Posted on September 26, 2008
An AP report says that Hong Kong police have arrested and detained 11 agents and managers of MassMutual Asia Ltd on September 26, 2008 in connection with a forged letter that claimed insurance holding company American International Group, Inc. (AIG)....

AIG CEO To Speak on AIG Future Direction in Oct 3 Webcast

Posted on September 25, 2008
American International Group Inc. (AIG) Chairman and CEO Edward M. Liddy will host a conference call for the investment community on Friday, Oct. 3, 2008 at 8:30 a.m. EDT to provide an update on AIG's future direction. The audio webcast...

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Structured Settlement Web Sites Monthly Traffic Rankings

Posted on September 25, 2008
Three Month Trailing Top 10 Traffic Rank (Alexa Rank as of 09/25/2008) of Structured Settlement and Settlement Planning Industry websites* (+ or- traffic from 08/26/2008 report). Lower number means more traffic. Who Are Ya? Beyond Structured Settlements Blog (Pat Hindert)...

Forge Consulting "Full Market Access"= Bull

Posted on September 24, 2008
There is an inconsistency in Forge Consulting advertising that is disturbing but not surprising. The Forge Consulting website boasts putative magic words of "full market access" implying that it gives its clients access to all of the structured annuity markets...

At J.G. Wentworth... Where "Quality Assurance" Apparently Means Telling Same LIE as Peachtree?

Posted on September 24, 2008
The stench wafting over from Bryn Mawr, Pennsylvania this morning comes from the rotting eggs running down the red faces of J.G Wentworth management. In a press release intended to highlight J.G. Wentworth's benevolence Randy Parker, the director of "quality...

That Momma Can't Spell!

Posted on September 24, 2008
In a post which exhibits the lack of sophistication of an aging gum chomping teenage gossip queen and the "spelling prowess" of Forrest Gump, Rhonda Bentzen refers to me as the structured settlement industry equivalent of "Senetor McCarthy". Download bentzen_cant_spell_senator_and_doesnt_get_the_point_on_mccarthy...

Does Financial Crisis Mean "No Cash Now" from "Cash Now Pushers"??

Posted on September 23, 2008
After hearing rumors that some of the major "cash now pushers" were pulling out of deals due to the current financial crisis I received a fax that appears to remove all doubt. Download jg_wentworth_letter_to_fl_structured_settlement_annuitant_sept_17_2008...

Prudential Structured Settlements Now Requires Name of Assignor on ALL Structured Annuity Lock Ins

Posted on September 23, 2008
A number of plaintiff settlement planners are pulling locked-in and pending cases from AIG annuity markets and placing them with alternative markets. While some of this is to be expected (for example in minor case where Courts have minimum ratings...

Patrick Hindert Churns the "Factoring Scum" on AIG

Posted on September 22, 2008
Monday morning quarterback Patrick Hindert's analysis of "The Week That Changed American Capitalism" begins with the tale of Hurricane Ike and the interruption of power for over 700,000 homes. In Hindert's case perhaps it should have stayed off. Isn't it...

KY "Jaily" Awaits AIG Policyholder Abusers

Posted on September 22, 2008
The Kentucky Department of Insurance sent the following to agents licensed in the state on September 19, 2008: "Notice To All Agents: We wanted to share some information with you regarding the recent turmoil in the market, particularly concerning American...

New York State Insurance Commissioner Warns AIG Policyholders of Possible Illegal Approaches-Sends Clear Message Abuse Will Not Be Tolerated!

Posted on September 22, 2008
The New York Insurance Department issued a press release dated September 22, 2008 in response to reports of solicitation abuse visited upon AIG policyholders and consumers. Some of the key points made by insurance superintendent Eric Dinallo: " AIG insurance...

There is Precedent For Structured Settlement Payments Being Protected in Bankruptcy of Obligor

Posted on September 21, 2008
A 1991 Chapter 11 Bankruptcy case should be of interest to current structured settlement payees, prospective structured settlement payees and plaintiff lawyers. In the case, stemming from the Chapter 11 bankruptcy of Monarch Capital Corporation, the qualified assignment company of...

The Grand Ole "Mockry"

Posted on September 20, 2008
Having just returned from an enjoyable 2 days in Nashville, this "Grand Ole Mockry" is a fitting "tribute" to one of Nashville's local yokels. Rhonda Bentzen, a factoring broker who appears to place enormous weight on her former status as...

Understanding the AIG Rescue Plan 101

Posted on September 20, 2008
Much has been written about the AIG bailout and some of it has unfortunately been misinterpreted. This post attempts to help educate our readers. Under the American International Group, Inc. ("AIG") rescue plan, the Federal Reserve will make available an...

Factoring Company Makes "Strategic Decision" to Effectively Add to Market Confusion

Posted on September 20, 2008
Former Peachtree flack Deborah Benaim is up to her old tricks, as Senior VP at Imperial Structured Settlements, LLC: "We have recently made a strategic business decision to change the name of our organization from Washington Square Financial, LLC to....

Factoring Scum Preying on Tort Victims Using False Information About AIG

Posted on September 19, 2008
A number of factoring companies including some big names are exploiting the fears of tort victims with AIG structured settlements. According to our sources tort victims are being falsely told that AIG is going bankrupt. This author understands that AIG...

Aviva Has A+ A.M. Best Rating Affirmed

Posted on September 19, 2008
A.M. Best has just reaffirmed the A+ (Superior) financial strength ratings of the Aviva Life companies, which include structured settlement annuity issuers Aviva Life Insurance Company and Aviva Life and Annuity Company of New York. Click the link below for...

State Guaranty Funds

Posted on September 17, 2008
State insurance departments regulate insurers domicied and licensed in their states. In the event of an impairment that is sufficient for insurance regulators to take over, the shortfalls are funded through assessments on the solvent insurers in the state, in...

New York CPLR 50-B Ramifications of Insolvency

Posted on September 17, 2008
What are the ramifications if there is a New York CPLR 50-B judgment and the annuity issuer and/or insurer goes belly up? I received such a question on Tuesday morning from an attorney for a former plaintiff receiving a substantial...

AIG...US Government To The Rescue! Post Mortem

Posted on September 17, 2008
The financial panic over AIG appears to be over. According to CNBC,BBC and other published sources the Fed will lend AIG $85B in exhange for a 79.9% interest in the company. As I understand it taxpayer money is secured by...

Structured Settlement Industry Teachers MUST Demonstrate Superior Financial Literacy and Command of Facts Concerning Their Business to Inspire Confidence

Posted on September 17, 2008
In this episode of teaching the structured settlement teacher we focus on the web site of Brian Milner of Millennium Settlements: Brian Milner on "the structured settlement process": "Once the defendant agrees with the claimant on a stream of periodic...

AIG Situation Update

Posted on September 16, 2008
There is no way to sugar coat this: AIG was downgraded by all ratings agencies yesterday A Am Best A Fitch A- S&P A2 Moodys These ratings reflect the current environment at AIG. They are not reflective of all structured...

Will Hyena "Cash Now Pushers" Come Out Tonight?

Posted on September 15, 2008
Pay close attention to which slimy hyena element of the factoring industry attempts to exploit potential vulnerability of tort victims over the current AIG financial news. If you have a structured settlement with American General , VALIC or American International...

Plaintff Loyal Settlement Planners' Blunt "Prestige Hook"?

Posted on September 15, 2008
For the last 6 1/2 years number of "plaintiff loyal structured settlement planners" have trumpeted the need to include IRC 5891 "enabling language" so that the plaintiffs have the ability to factor theoir structured settlements. Some plaintiff attorneys may have...

AIG Takes Ratings Hit From A.M.Best, S&P and Fitch

Posted on September 15, 2008
I think that AIG would be happy to have an AAA rating at the beginning of the day on September 15, 2008. Unfoprtanately this was an A an A and an A-. AM Best reduced the ratings of the life/health...

Would You Pay a $3,000 ATM Fee?

Posted on September 15, 2008
Did you know that each structured settlement factoring transaction requires Court approval or the factoring company is subject to a 40% excise tax on the factoring discount. An attorney is needed to make the application for court approval. Even though...

Time to Get New SEO Firm for Structured Settlement Services, LLC?

Posted on September 13, 2008
Structured Settlement Services, LLC's search engine optimization efforts appear to have gone under water. An incredible 97% of the Tulsa based firm's web traffic now comes from India according to the latest Alexa report. Download structuredsettlements...

Is Boca Raton "Cry Baby" Like Pot Calling Kettle Black?

Posted on September 13, 2008
On 5/2/2008 Neil Lemelman of Boca Raton Florida "boo hooed" to the Federal Reserve about "deceptive and unfair tactics of credit card companies under Regulation AA (R-1314): In a complaint published on the Federal Reserve website the following was attributed...

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