Berkshire Hathaway Life Insurance Company of Nebraska, has been added to the Chartis panel of annuity issuers that it will approve for use with settling the claims of Chartis insureds with structured settlements.
To the best of this author's knowledge this is the current Chartis List (with current A.M. Best rating):
- American General Life Insurance Company A
- Berkshire Hathaway Life Insurance Company of Nebraska A++
- New York Life Insurance Company A++
- Metropolitan Life insurance Company A+
- Allstate Life Insurance Company A+
- Pacific Life and Annuity Company A+
- United States Life Insurance Company in the City of New York A
Some are critical of insurance carriers who set up approved lists of structured settlement annuity issuers. In some cases the approved lists do not seem to make logical sense because on larger cases, with some approve lists there is not enough choice to adequately diversify risk.
However, the addition of Berkshire Hathaway to Chartis' panel is a welcome and appreciated addition.
If a better rate can be obtained from a carrier not on the Chartis panel then a capable structured settlement broker should work to get one or more of the comparably rated annuity issuers that is on the panel to match (or beat) the valuation. If your broker or settlement planner is unable or unwilling to do so, or is suggesting a qualified settlement fund in a single claimant case against Chartis, which will increase your client's costs and reduce the carrier choices thereby defeating the purpose of the move, feel free send the case my way. We'll do our best to help provide an optimal solution.
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