Structured settlements growing as payment choice. (Life/Health).Life-insurance members of the National Structured Settlements Trade Association wrote more than $6.12 billion of annuities last year as settlement for physical-injury claims, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the association. The sales total is up from about $4 billion in 1999 and $5 billion in 2000, but is only a little more than the $6.05 billion written in 2001. The figure is based on information from 21 life insurers. Driving the increase has been increasing support by plaintiff and defense attorneys, judges and victims' rights victims' rights, rights of victims to have a role in the prosecution of the perpetrators of crimes against them. Nearly all U.S. states have enacted some victims' rights legislation. advocates, said Terry Taylor, president of NSSTA NSSTA National Structured Settlements Trade Association (Washington, DC) and of Plaintiff Structures, an Austin, Texas-based firm. Congress recognized structured settlements in 1982 as a way to provide long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. financial security to injury victims and their families through a stream of tax-free payments. The association has more than 500 members. |
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