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FAQ for Claim Professionals
  1. Introduction
  2. What is a Structured Settlement?
  3. Why would a claimant want one?
  4. Why wouldn't they want one?
  5. How can the claimant manage the disadvantages?
  6. Why does my company want me to use them?
  7. Which kinds of cases are good candidates for structures?
  8. Which cases are not?
  9. What about case size?
  10. How do I get started?
  11. What's a typical negotiating scenario?
  12. What if the Claimant says no?
  13. Approved annuity issuers
  14. Why annuities?
  15. Annuity Pricing
  16. Reduced life expectancy discounts
  17. What is an "assignment"?
  18. Structure of the deal
  19. Insurance company ratings
  20. The closing process
  21. What do settlement brokers do?
  22. How are brokers paid?
  23. What if the claimant has their own broker?
Home Page > "How to" For Claims Professionals >ABC's

What Do I Do If The Plaintiff Has their Own Broker?

Inform your broker immediately and let him or her deal with the issue.

Depending on the circumstances, it is not uncommon for brokers to work out an agreement to share the commissions in some fair proportion. But if this is not one of those times, you must stand by your broker and inform the claimant or claimant's broker that the case will be structured with an "approved" broker.

Note: watch your defense counsel. Make sure they are aware that your company has a structure program and that only approved brokers may do the work. Many defense attorneys are unaware of company programs and program rules and they unwittingly agree on your behalf to the use of non-approved brokers and/or annuity issuers.

Your company (and manager) won't like that result. Be sure all your attorneys know that you have assigned a broker to the case and make sure all structure-related issues are referred to that broker.