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Life Settlement Conference Concludes

The Life Insurance Settlement Association (LISA) convened its annual Compliance Conference in Atlanta, Georgia. The annual gathering is the only conference geared towards the life settlement industry's compliance professionals and featured the widely popular Legal Roundtable. This year's event was attended by more than 30 licensed life settlement companies. ?The Compliance Conference always offers attendees a tremendous amount of value as it addresses the most important compliance-related issues of the day,? commented Doug Head, LISA Executive Director. ?As the voice of the industry, it is our responsibility to make sure this type of dialogue is occurring within the industry.? This year, the ...Read more

Life Settlement Fund Reports 10% Returns

SL Investment Management's two-year-old Life Plus Life Settlement Fund has earned a 10.26% return since its launch, the Chester, England-based company said in a statement Tuesday. The fund has experienced $13.3 million in life policy maturities. SL Investment's valuation method is unlike other companies that use mark-to-model valuations that can vary greatly, said Investment Director Patrick McAdams. ?SL assumes very few maturities will occur shortly after policy acquisition, and use[s] a very transparent actuarially based model to approximate market value,? he said in the statement. SL Investment is planning to launch a second Life Plus fund. The company, which also works with traded ...Read more

NCOIL Life Settlement Disclosure Model

Good news, and this will be interesting to see if passes? The Life Insurance and Financial Planning Committee the National Conference of Insurance Legislators (NCOIL), Troy, N.Y., is drafting model state legislation that would require life insurers to tell policyholders that life settlements are among the alternatives to letting policies lapse, according to Georgia state Sen. Ralph Hudgens, R-Hull, Ga., the committee chair. Hudgens says he has asked another committee member, Kentucky state Rep. Ronald Crimm, R-Louisville, Ky., to draft the model bill. The model bill would require life insurers to advise insureds about all of the alternatives that would be available if ...Read more

Recent important Life Settlement News

Some recent news has been pretty important to the industry. GAO Releases Life Settlement Report ? One of the most talked about current topics in the industry is the report released from the Government Accountability Office. Midwest Medical Audit shows their Accuracy ? The audit on Midwest Medical life expectancy reports was released, and the numbers are pretty scary? Lifemark and Key Data Portfolio Deal not looking good ? Update and article about Lifemark and CarVal deal falling apart. On another note, if you are a fund, funder, or provider, now is the time to pick up a great domain asset and establish your ...Read more

New York License Fee Reduction for Providers

New York Life Settlement Fees This is positive news? Bowing to pressure from the life settlement industry, the New York State Insurance Department has cut the licensing fee it will charge providers from $20,000 to $10,000. Settlement industry representatives had objected to the $20,000 fee, which was proposed by Insurance Department Superintendent James Wrynn in a draft of emergency regulations to put New York's new life settlement law into effect. Licensing fees charged by other states generally range from $500 to $1,000. New York officials lowered the fee in the final version of the emergency regulations published Friday, after hearing complaints from settlement industry ...Read more

Susman Godfrey Wins Judgment in $5 Million Life Settlement Rescission Case

This is a win for the Life Settlement Industry?. Susman Godfrey Wins Summary Judgment in $5 Million Life Settlement Rescission Lawsuit A New York state court recently rejected as a matter of law an insurance company's attempt to rescind a $5 million life insurance policy, holding that the insurer ? Lincoln Life & Annuity Company of New York ? waived its rights to obtain rescission by seeking and accepting premium payments after it filed its lawsuit.  The trial litigation firm Susman Godfrey L.L.P. represents the victorious policy owner.  Lincoln's lawsuit was based on allegations that the insurance policy lacked an insurable interest ...Read more

Life Settlement Index Update shows Decline

A recent index released from the Amrita Life Settlement Index experienced a 73-point drop in February from January 2010. The weakness was largely due to a persistent imbalance between available policies and active buyers in the life settlement market, says Amrita. Traditional sources of policy origination such as life settlement brokers, consumers and other intermediaries continue to feed supply into a market showing limited demand. The February index results reflect some tightening of buying appetites while life settlement provider buying demands remain conservative overall, Amrita states. The weaker-than-expected demand for life insurance policies on the secondary market resulted in a 14% decline, ...Read more

International Trade Summit produces good results

The 2010 Trade Summit drew an opening London crowd of 150 and robust crowds followed the event as it arrived in Luxembourg and finally, in Zurich. ?It's clearly heartening to experience straightforward and honest deliberation of the industry's most pressing issues,? said Bryan Freeman, co-chairman of the Trade Mission and president of Habersham Funding LLC. ?We all agree on the fundamental value offered by the secondary market. What is essential as we work with our European colleagues is a clear-eyed understanding of the risks and possibilities before us. This event clearly illustrated the seriousness of intent with which respected institutional ...Read more

Upcoming International Life Settlement Conference

London Life Settlement Conference Upcoming Life Settlement Conference is right around the corner? The International Life Settlements Conference March 22 & 23, Marriott Grosvenor Square, London The Life Settlements industry continues to evolve with new regulation and legislation surrounding the market. The International Life Settlements Conference examines all of the latest developments, with an emphasis on what investors are looking for, how the industry can better position itself for growth, and what it will take to see a return of funding to the market. This is the premier gathering for Life Settlements professionals, European investors and limited partners. The agenda includes discussions on legislation, regulation, litigation, ...Read more

New York to require full Life Settlement Commission Disclosure

David Paterson The New York insurance department will require agents and brokers to disclosure how much commission is being paid and by whom, if New Yorkers contemplating an insurance policy request the information, according to a statement released by the department. The regulation will be published in the February 10, 2010 issue of the State Register, and its requirements will take effect as of January 1, 2011. More details will be posted on: Life Settlement License New York Life Settlement ...Read more