Potential for a Structured Settlement Industry Shake-Up: The 'Cordero' Appeal

Insurance partner Sandra Jones authored an article for The Legal Intelligencer titled “Potential for a Structured Settlement Industry Shake-Up: The 'Cordero' Appeal” that discusses the future of structured settlements in an industry that has been helping injury victims for decades.

Jones outlines the structured settlement process, how personal injury victims and wrongful death survivors have sold or assigned their future structured settlement payment rights to third-party purchasers at high interest rates, with annuities not owned by the tort victims themselves.

Jones provides an overview of a lawsuit filed by structured settlement payee Lujerio Cordero, whose complaint against insurance companies led to an appeal in the U.S. Court of Appeals for the Eleventh Circuit. The author explains that New York’s highest court could issue a decision with serious implications for the structured settlement industry.