The NSSTA (National Structured Settlements Trade Association) has been the top voice in the industry of structured settlements since 1985. There are approximately 1,200 NSSTA members who benefit from the activities of the association up to date. Some of these benefits include:
- Constant legal analyses and updates of state and federal court decisions, regulations, and laws.
- Checking of state and congressional legislative activity that puts an impact on the structured settlement industry.
- Preserving the only site for Internet that is devoted solely to enhancing the benefits of the structures.
- Carrying on education meetings during the year and hosting professional certification.
Structured settlements are defined as a proven and innovative way of compensating injury victims when it comes to legal settlements. It is a voluntary agreement that exists between the defendant and the injury victim. The US Congress has encouraged structured settlements since 1982. The structured settlement is a stream of periodic payments. It is paid by the defendant to an injured party mostly via the purchase of an annuity that has been directly issued by life insurance companies that are highly rated. The defendant also has the option of self-funding the periodic payments. Structured settlements offer guaranteed and security long-term income tax-free payments to wrongful death lawsuits and victims of physical injury.
Consultants of structured settlement offer services to defendants together with their counsel, the injured parties, family members, and plaintiff attorneys during the whole settlement process so as to establish the injured victim’s needs. The NSSTA has been collaborating with legislators to assist in establishing SSPAs (state structured protection acts) to guard the recipients of payments for structured settlements since the 1990’s. You can trust on NSSTA to help you get your rightful compensation with the help of your attorney incase you get an injury.
Getting insurance companies to settle on payment of injury victims is a struggle. This can be an easy affair with the help of NSSTA. NSSTA also makes sure that you get the proper amount of payment according to the degree and type of injury. The association has a membership application where insurance companies, attorneys, licensed consultants, and other professionals can apply to become members. The members of NSSTA are passionate regarding the work they do in helping injured individuals. They are committed to ensuring there is a fair and just compensation for injury victims. NSSTA strives for excellence and assists its clients in finding the proper solutions to meet the needs of the customers.
The NSSTA has a dedicated staff with Eric Vaughn serving as the Executive Director of the Association. He has a Master’s degree in International Economics which he earned from the Maxwell School of Public Policy. Erick has been able to spearhead the strategic goals of the association. He has worked previously in some courts in the US. NSSTA recently launched the NSSTA University whereby members of the association can get their presentations approved for attorneys and adjusters credits applicable towards the compliance of their licenses. This service offers a way for members of NSSTA to make use of education in getting ahead of the industry’s decision makers.
NSSTA has come up with a code of ethics that apply to all members of the association through its board of directors. It states that all members of NSSTA shall offer professional services with fidelity and integrity. It also says that members of NSSTA should acquire and keep the appropriate skills and knowledge so as to assure delivery of a professional service that is of high quality. It states that members are required to exercise reasonable due diligence when conducting structured settlement services.