Marketwire, 31 May 2012
The Life Insurance Settlement Association (LISA) recently concluded its successful 18th Annual Spring Conference, held in Philadelphia on May 21-23, 2012. More than 190 people from nine countries attended the conference.
The three-day event featured a variety of insightful and informative presentations focusing on legislation and regulatory issues, consumer advocacy and outreach, life expectancy and mortality, and institutional investment and management issues. In addition, Washington political analyst Michael Barone presented his perspectives on the current political landscape.
Kentucky State Representative Robert Damron provided an inspiring discussion about regulation and life insurance carrier issues faced by the life settlement market. Representative Damron also received LISA's "Legislator of the Year" award. LISA's Executive Director Darwin Bayston said, "We are fortunate to have the continued support of Representative Damron and appreciate his strong support of consumers, for whom the secondary market is so very important."
Other highlights of the conference included:
- Discussion of the psychological impact on mortality and longevity, by Dr. Howard Friedman, Professor of Psychology at the University of California and co-author of The Longevity Project.
- The effects of social media on our industry and the impact of endorsement of life settlements by respected celebrity Betty White, presented by Stephen Terrell of The Lifeline Program.
- Discussion of investment capital and the importance of consultants in bridging the gap between the life settlement market and institutional investors.
- Recent regulatory and case law updates and their impact on the life settlement market.
- Progress in life expectancy information and the reporting of actual-to-expected results by life expectancy underwriters.
LISA will host its 18th Annual Fall Life Settlement Conference and Life Settlement Compliance Conference later this year, in Orlando, Florida.
A life settlement is the sale of an existing life insurance policy to a third-party buyer for an amount that, on average, is 4 to 5 times greater than the cash surrender value of the policy. Life settlements are highly regulated and maximize the value of life insurance in the hands of policyowners.
Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the life settlement market. Its goal is to advance the highest standards of conduct for market participants and to promote education and awareness to consumers, investors, and public officials. LISA represents more than 100 member firms including 2,500 professionals from life settlement brokers, life settlement providers, institutional investors, life settlement servicers, and other service providers.
For more about the association, visit www.lisa.org.