Structured Settlements Industry Reports Continuing High Demand; Nearly $3 Billion in Settlements for Six Months

[Wise Young]

http://www.prnewswire.com/cgi-bin/st...1773262&EDATE=

Structured Settlements Industry Reports Continuing High Demand; Nearly $3 Billion in Settlements for Six Months

WASHINGTON, July 29 /PRNewswire/ -- During the first six months of 2002,
life insurance members of The National Structured Settlements Trade
Association (http://www.StructuredSettlement.info ) wrote $2.91 billion of
issued annuities as settlement for physical injury claims, the association
announced today.
This figure is comparable to last year's six-month figure of $3.07
billion, but significantly higher than the six-month levels for 1999 and 2000.
All figures are based on information released by more than 20 life companies.
"This data shows that injury victims continue to request structured
settlements at unprecedented levels," said Terry Taylor, president of National
Structured Settlement Trade Association (http://www.StucturedSettlement.info )
and president of Plaintiff Structures in Austin, TX. "The reason is clear:
With all the stock market chaos, no other financial settlement matches a
structured settlement's growth and security."
Taylor noted that the current six-month figure of $2.91 billion is only
about $1 billion less than the industry's entire 1999 production.
Recognized by Congress since 1982, structured settlements provide long-
term financial security to injury victims and their families through a stream
of tax-free payments tailored to their needs. As a result of these obvious
benefits, structured settlements have become an inherent part of physical
injury settlements.

The National Structured Settlements Trade Association is an organization
of more than 500 members who provide structured settlements in the resolution
of personal injury and workers compensation claims.
For more information about structured settlements or the NSSTA, please go
to the association's website: http://www.StructuredSettlement.info .