How Defense Saves Money Controlling the Structure Process?
They who have the gold, make the rules. This is especially true in the structured settlement industry, but plaintiff-only structured settlement specialists have made tremendous strides in leveling the playing field for injury victims and their attorneys. Still, structured settlements present undisclosed cost-saving opportunities for liability insurers and self-insured defendants if plaintiff’s counsel is not careful. Here’s a partial list of some of these defense tricks:
- In-house annuity programs that are non-competitive and huge profit centers for the affiliated life insurance company
- Post-settlement medical underwriting reduces cost of providing life-contingent payments
- Non-Disclosed Daily Rate annuity pricing shaves down the cost of the annuity
- Non-Disclosed Jumbo Case Pricing saves on the cost of the annuity
- Bait and Switch annuity companies reduces cost of the annuity
- Restricted approved lists of annuity carriers reduce competition from competitive annuity carriers
It is important to note that defense owes no obligation to plaintiff’s counsel or the injured party to be forthright with their structured settlement advice (see ADRIAN v. MESIROW FINANCIAL STRUCTURED SETTLEMENTS, LLC). Plaintiff counsel who structures without their own expert does so at their own risk.
