CLM Magazine

MAY 2015

Claims Management Magazine informs and educates claims, risk, and litigation management professionals on the news, trends, products and services that lead to the efficient, cost-effective resolution of property & casualty claims.

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Page 23 of 43

24 Claims Management // may 2015 Understanding Structured SettlementS s tructured settlements ("structures") have long been an important tool in facilitat- ing the resolution of claims and disputes. Using struc- tures to bridge the gap between varying perceptions of a claim's value and to respond to specifc long-term claimant needs are just two ways that structures can provide assistance to parties in a disputed claim. In 2014, the National Structured Settlements Trade Association (NSSTA) commissioned CLM Advisors to perform an industry study to quantify what claims professionals think about structures, how they are being used, and what might be improved about the process. Tis study was the second of two commissioned on this topic; the frst ex- amined what senior claims and litigation ofcers thought about the value of struc- tures. In contrast, the 2014 study that will be discussed here gathered the opinions of frontline claims professionals. More than 100 claims professionals participated in the study, representing 14 separate claims organizations. Te partici- pants represented a wide diversity of expe- rience and lines of business. Eighty percent survey reveals What claims Professionals think about these Payout arrangements by kevin Silo and taylor Smith

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