Exponential Growth. Endless Possibilities.
In recent years, the life settlement industry has experienced exponential growth. A tremendous surge of attention in the public, business community and media at-large has accompanied this growth. To keep pace with this growing market, state legislative bodies are moving rapidly to draft and pass laws regulating the life settlement industry. 2008 brought more than 20 proposed bills in over 18 state legislatures. State insurance departments are playing an increasingly active role in the development of life settlement legislation. Associations such as the National Association of Insurance Commissioners (NAIC) and National Conference of Insurance Legislators (NCOIL), among others, have provided extensive influence and guidance in the development of the laws that shape the industry. The expanding legal framework for life settlements poses a multitude of challenges and possibilities. As the industry grows and finds new form, consumer and business interests are discovering these possibilities and taking advantage of the benefits they hold present.