by Structured Settlement Watchdog
Attorney Richard B. Risk, Jr. shamelessly promotes his poorly pleaded lawsuit against AIG in an opinion piece on The Hill published May 22, 2017.
How can any Congressman, Congresswoman, their staff lend credibility to Richard B. Risk, Jr., a licensed attorney who, in 2004 as a licensed insurance agent, signed a declaration under penalty of perjury to the United States Department of Justice, stating that he had provided substantial services to defendants in each of the preceding years? This statement directly contradicted continuous representations made by Risk and his firm, who claimed to exclusively serve plaintiffs, as evidenced by forensic records available online and obtainable FOIA request. [ see my blog Is There a Need for a Risk Assessment? – Structured Settlements 4Real®Blog
As I’ve previously opined, there are serious problems in the argument about undisclosed commissions and their impact on plaintiffs.
In 2004, the same year as the aforementioned declaration under penalty of perjury to the DOJ, Dick Risk’s company website claimed that the Risk folks “always disclosed the true cost of the structured settlement”. One wonders whether an audit of files from that time would show that Dick Risk disclosed the”true cost” as the cost on the annuity issuer quote or the annuity issuer quote less the commission? It’s a goose gander thing. Download 2004 Structured Settlement Services Ethics Statement
Insurance regulation is the province of the states, the majority of which have long standing anti-rebating laws. Risk’s opinion piece implies that the rebate issue is an insurmountable hurdle. It would involve each state amending its longstanding insurance laws. I imagine that Risk’s inner monologue is a paraphrase of Faber College’s Eric Stratten, “We could fight them with conventional weapons (state by state), but that would take years and cost thousands of lives”. No, AIG didn’t “bomb Pearl Harbor”.
Dick Risk does’t even appear to have widespread support from plaintiff settlement advisors
“Structured Settlement Reform | “It’s Not His Party But He Can Cry If He Wants To” | – Structured Settlements 4Real® Blog“ April 21, 2015
Sing it Julie!