Life Settlement News

On September 17, life settlement professionals, agents, and others will enjoy an exclusive look at the preeminent membership organization leading the secondary market for life insurance. The Life Insurance Settlement Association (LISA) will host a free webinar opening its doors to all interested parties.

A recent article in Investment News warned companies of the dangers of not investing resources into their respective compliance departments. Failure to heed that warning could cost companies more in resulting fines than the cost of any immediate investments in the retention of and education for their compliance personnel.

As the global economy starts to show signs of a recovery, investors and their advisors are increasingly recognizing life settlements as a stable and viable asset class.

The Life Insurance Settlement Association (LISA) invites all interested parties to a FREE webinar this Wednesday, August 26th, 2 p.m. (EDT), to experience the tools and resources available to current members on the LISA members-only website and see all that prospective members can look forward to as a full LISA member.

Life Settlement Review/LISA study shows lack of consumer awareness still an issue for the industry.

The month of August will offer a unique opportunity for brokers and service providers in the burgeoning market of life settlements. The Life Insurance Settlement Association is presenting a Broker Summit on August 7th and an Industry Services Forum on August 28th. Both events will be held in sunny Orlando, Fla., and feature panel discussions, an exhibitor marketplace and above all, plenty of opportunity to network.

The Life Insurance Settlement Association will proudly convene its 14th Annual Fall Conference on November 6th and 7th in Washington, D.C. As lawmakers and the nation grapple with the deepening financial crisis, LISA will represent an active and burgeoning market not correlated to the current focus of concern on Wall Street.

Advanced Underwriting Solutions (AUS) announced today that it has been named the preferred vendor of life expectancy underwriting for Asset Servicing Group.

“We strive to build long-term relationships with clients that share our belief in providing exceptional service, a proven track record of experience, and a focus on the customer that is not based on a “one size fits all” mentality. Asset Servicing Group shares these business imperatives and we are thrilled to have them aboard.” commented Traci Davis, President of AUS.

Revised NCOIL-based legislation will be brought up in next session

New York, one of just 10 states where life settlements are unregulated, is unlikely to see a law governing the business until January, when legislators reconvene for their next full session. In June, state lawmakers adjourned without passing legislation that closely followed a model act drafted by the Washington-based National Conference of Insurance Legislators. An earlier bill, proposed by the state’s insurance department and containing a controversial requirement that investors in life settlements register with the department, had been scrapped.

Hirshorn To Spearhead Capital Markets Activities

Legacy Benefits, LLC announces the addition of Mark Hirshorn to head its Capital Markets efforts. Prior to joining Legacy, Mark spent two years as Director, US Securitization at Fortis Securities LLC in New York. He focused on client-based transactions and projects involving structured solutions in the global markets. Prior to joining Fortis, Mr. Hirshorn spent ten years at Bayerische Hypo- und Vereinsbank where he managed the bank’s US securitization efforts.

Hirshorn will lead the company’s capital markets initiatives, developing and marketing life settlement based products and structures while establishing relationships with an expanded group of institutional clients. Hirshorn said, “This is a unique opportunity to help an established and respected organization build out its funding platform and origination capacity.

Leveraging my experience, and the skills developed over the past twenty years, I look forward to helping Legacy reach its full potential in the global markets.”