medical liens, specialized mo- bility equipment, or modifying a home to accommodate a disabled person. The money that remains can then be invested in a struc- tured annuity to fund future medical care and living expenses. Structures have the unique ability to ensure claimants will always have access to much needed income and offers protection against those influences that may attempt to inappropriately “invest” the claimant’s money. School districts, transportation
companies and municipalities face a wide range of unfortunate incidents across the country in an increasingly litigious envi- ronment. This can include auto accidents, premises liability claims, school shootings, instanc- es of abuse and assault, and many others. Structured settlements provide a path toward respon- sible dispute resolution. Many companies, school districts and municipalities have large deduct- ibles or self-insured retentions. In other words, they have skin in the game. It is in their best interests to settle claims as quickly and as cost efficiently as possible. Prolonged legal battles come with hefty legal costs and increased risk of adverse judgements. In a post-COVID world, where bud- gets are constrained and every dollar counts, bringing as many creative solutions as possible to the settlement table is critical. The offer of a structured settlement annuity is often the factor that breaks the logjam in a mediation. In addition to structured an-
nuities, settlement consultants provide options to set up Special Needs Trusts for claimants who need to preserve government benefits and Qualified Settlement Funds to appropriately distribute
www.stnonline.com 23
settlement monies to parties in a multi-claimant suit. For employees that have been injured on the job, they provide workers compensation annuity plans to cost effectively settle claims and fund Medicare compliant medical funds. They are a Swiss army knife at the settlement table and a resource that any risk manager, administration official or claims handler should have on call when attempting to resolve complex claims against the entities they serve. ●
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