Disability Law

Structured Settlement Thought Leadership Conference

By Patrick Hindert

Focusing on the needs and best interests of consumers, the first-ever Structured Settlement Thought Leadership Conference took place June 17, 2008 in Philadelphia.

Designed to bring together knowledge leaders who are "redefining structured settlement roles and processes", the Leadership Conference was attended by 50 invited participants representing the entire structured settlement continuum including recipients. The Leadership Conference objective was to provide an educational platform and open forum dedicated to growing and improving the structured settlement market.

In addition to four panel discussions and two individual presentations, the Leadership Conference featured a brainstorming session to improve the structured settlement process for plaintiffs based upon the subjects discussed in prior sessions.

The panel discussions addressed the economic life cycle of a personal injury claim identified by Adam Scales in his 2002 Wisconsin Law Review article titled "Against Settlement Factoring? The Market in Tort Claims has Arrived". Panel discussion topics:

• From Accident to Settlement
• Periodic Payment to Periodic Interest
• What Happens After a Settlement is Sold
• Legislative Initiatives for the Structured Settlement Industry

Personal Thoughts and Observations

• With the continuing lack of growth and new ideas being generated by the traditional structured settlement industry, the Thought Leadership Conference represented a timely and important industry development.
• The positive energy generated by the Thought Leadership Conference reminded this author of the 1982 First Colony Conference that served as a catalyst for the formation of the National Structured Settlement Trade Association (NSSTA).
• The Thought Leadership Conference focus on consumer (plaintiff) needs and best interests is long overdue in the structured settlement industry. Plaintiff participation on panel discussions enhanced and improved the program.
• The Thought Leadership Conference included much broader and more balanced representation of structured settlement stakeholders than traditional industry trade association programs.
• The Thought Leadership Conference encouraged new ideas and perspectives for growing the structured settlement industry, including ideas considered controversial or banned from traditional trade association discussions.
• The ideas for industry growth highlighted the need and opportunity for collaborative industry solutions.
• Among the closing remarks, Michael B. Goodman, Chairman and CEO of J.G. Wentworth, summarized the optimistic and entrepreneurial spirit of the Thought Leadership Conference: "I would love to be in the [primary structured settlement] business because the growth opportunities are so great". Other conference attendees appeared to agree - including the primary market representatives, consumer finance specialists and investment banking executives.

Full post as published by Beyond Structured Settlements on June 18, 2008 (boomark / email).