Wisconsin’s SSPA ensures that safeguards are in place to protect consumers from predatory practices from factoring companies. We applaud Wisconsin’s leaders for their bipartisan support and making this bill the law of Wisconsin.
Washington, DC (PRWEB) November 11, 2015
The National Structured Settlements Trade Association (NSSTA) applauds Wisconsin Governor Scott Walker’s bold leadership for signing the Wisconsin Structured Settlements Protection Act (SSPA) bill into law on November 11, 2015. This is great news for the thousands of Wisconsin residents and families who have suffered serious physical injuries from accidents who now have a state law on the books that will protect their structured settlements from abusive factoring company practices.
For more than 20 years, NSSTA has been working with state legislatures all across the country to help establish State Structured Settlement Protection Acts to protect structured settlement recipients and provide practical guidance and direction to state courts. With the signing of AB 129 today, Wisconsin becomes the 49th state to enact its own State Structured Settlement Protection Act.
“For more than two decades the structured settlements industry has worked effectively with disability advocates, consumer organizations, legal groups and insurance industry leaders to enact SSPA legislation all across the country to protect the settlements that victims of serious injuries count on to pay medical bills, meet health care expenses and pay for basic living expenses. These efforts take time. It is incredibly rewarding to see the hard work and bi-partisan leadership of Wisconsin State Representatives Jim Ott and Dana Wachs lead to passage by the State Legislature of one of the strongest and most effective SSPAs in the Nation,” said Eric Vaughn, Executive Director of NSSTA. “Governor Scott Walker’s leadership will pay off immediately in terms of new consumer protections for thousands of seriously injured men, women and children in Wisconsin who need the support and protections this new law will provide.”
“Wisconsin’s SSPA ensures that safeguards are in place to protect consumers from predatory practices from factoring companies,” added Vaughn. “We applaud Wisconsin’s leaders for their bipartisan support and making this bill the law of Wisconsin.”
Structured settlements are a proven way for an injured party to accept compensation in a physical injury case. It is a periodic stream of payments paid to an injured party by the defendant primarily through the purchase of an annuity issued directly by a highly rated life insurance company.
For more information on structure settlements, visit the NSSTA website.
About National Structured Settlements Trade Association
Since 1985, the National Structured Settlements Trade Association (NSSTA) has been the leading voice of the structured settlement industry, representing more than 1,200 professional structured settlement consultants, life insurance industry leaders, property and casualty company claims officials and lawyers from all across the United States and Canada. For more information, visit http://www.nssta.com.