Structured Settlement

A structured settlement is a financial or insurance arrangement, including periodic payments, that a claimant accepts to resolve a personal injury tort claim or to compromise a statutory periodic payment obligation. Structured settlements were first utilized in Canada and the United States during the 1970s as an alternative to lump sum settlements.

 Structured Settlement is a financial package permitting a settlement to be paid in regular installments either for a fixed period or for the lifetime of the claimant. Because it is tailor-made for individual cases, the structure may also include some immediate payment to cover special damages.

The payment is usually made through purchase of an annuity from a Life Insurance Company. Subcontractor A trade contractor such as a roofer who usually subcontracts with a general contractor. Subrogation Once a company has paid a loss for which someone other than the policyholder is responsible, it may have the right to recover this loss.