Milking Spencer?
While Tulsa attorney Dick Risk seems to imply to visitors to the Risk Law Firm website that he was responsible for Hartford Life leaving the structured settlement business in 2009, today’s Hartford press release suggests otherwise.
What Risk Says Today (date of publication)
Risk Law Firm Website today*: “His class action lawsuit was followed by the insurer’s exit from the structured settlement annuity marketplace”.
Here’s the big ole but…
Hartford Structured Settlement Class Action Case Information Website
“On September 21, 2010, Judge Hall entered judgment in this action, which granted final approval to the settlement and plan of allocation, and which awarded fees and expenses to Class Counsel and compensation payments to the class representatives. The Court subsequently ordered that distribution payments may be made to settlement class members, and the Initial Distribution was conducted in December 2010. If you are a settlement class member and did not previously exclude yourself from this lawsuit, you were entitled to receive a payment”.
BUT, Dick Risk Missed This Whopper
Funnily enough Hartforrd stopped writing new structured settlement annuities a year earlier, in October 2009. Their spokesman was quoted in Forbes “The Hartford stopped writing new structured settlement annuities in October 2009 as part of the company’s decision to exit the institutional business, spokesman David Potter said Tuesday” (August 23, 2011). announcing Hartford’s re-entry into the structured settlement market.
Also see:
- The Hartford Expands Into Structured Settlement Annuity Market – ProgramBusiness | Where insurance industry clicks August 25, 2011
- HARTFORD FINL USD : The Hartford Expands Into Structured Settlement Annuity Market | MarketScreener August 23, 2011
So let’s not give credit where credit isn’t due, Dick Risk was not the reason that Hartford briefly stopped writing structured settlement annuities. Furthermore , Hartford resumed writing structured settelment annuities in August 2011, following Berkshire Hatahway and United of Omaha who resumed writing structured settlement annuities ,
Perhaps it’s time to stop being a dick, Dick!
* we also reported on this December 18, 2010 in this post
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