CHRONOVO CONVO: Mitch Neuhaus, CPCU

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Using a structure ensures that money will be there for the claimant and/or their family when they need it…” We recently had an opportunity to speak with Mitch Neuhaus, Senior VP of Claims at Safety National, about the evolution of the claims industry. Mitch’s perspectives are unique, given his 36+ years of involvement and his current leadership position at Safety National. Chronovo: How has the claims industry changed in the past 10 years? [...]

INTRODUCING A NEW TAKE ON STRUCTURES

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We think a lot about the countless benefits of structured settlements. And we know that one of the best ways of getting the message—any message—across is with a bit of humor. So Chronovo has engaged one of the most humorous contemporary cartoonists to help tell the story of structures. Introducing Pat Byrnes, the award-winning genius behind Chronovo’s new series of Structured Smartoons. [...]

BIGFOOT IS BACK AND MORE RELEVANT THAN EVER

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Our article on Liability MSAs returns by popular demand. The creative, court-approved strategies it outlines have generated quite a few calls and meetings. As you will discover, the article does not advocate for securing LMSAs. Instead, we challenge claims organizations to consider a consistent policy and protocol on when and how they are used—at least while we await a policy from CMS that may come this fall. Furthermore, given that MSAs frequently doubled or tripled the cost of claims resolution in workers’ compensation, [...]

Misconception #1: “My attorney knows all about structures.”

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Not so. Most attorneys do not know the fundamentals or the myriad of settlement options that can dramatically impact your financial future. Attorneys are experts in securing the best settlement, judgment or award possible for you. Brokers are experts in maximizing the value and security of your settlement dollars. As of 2018, there are 1.33 million licensed attorneys in the US and fewer than 800 licensed structured settlement brokers. [...]

Special Needs Trusts: Protection for You and Your Family, Funding for Your Future

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This article is a collaboration between Ken Paradis, CEO (Chronovo) and Cameron Lindahl, Trust Officer (CPT Institute). I. THE POWER BEHIND COMBINING SNTs and STRUCTURED SETTLEMENTS Without realizing it, an injured individual (or others in the household) who accept a settlement award over $2,000 may lose eligibility for needs-based government benefits such as Medicaid, Supplemental Security Income (SSI) and In-Home Support Services (IHSS). The value of these government benefits is significant. [...]

Return of Bigfoot: Practical Solutions For CMS’ Mythical Liability MSA Policy

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In May of 2017, I published an article entitled “Is Bigfoot Real? Are Liability MSAs Coming?”i It underscored that a CMS policy on Liability MSAs (“LMAs”) might be taking shape—much like grainy photos amidst the Pacific Northwest forest. In the year since, there have been multiple LMA policy sightings but still nothing close to anything clear and unmistakable. Because of the ongoing and extremely practical concerns raised by our clients about extinguishing any future recovery action from CMS, [...]

Florence Knapp & The Secret of the Settlement Nest Egg

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A recent Forbes article by Ashlea Ebeling asks the question: “Will Your Retirement Nest Egg Last Past 100?” This is not only an intriguing headline for retirement planning, but also an incredibly relevant topic during the settlement of personal injury claims as well. Due to the types of injuries sustained in many accidents, claimants often have medical and lost income needs that will last the rest of their lives. [...]

A Holiday Message

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Happy Holidays!   From all of us at Chronovo – ten seconds of sparkle and song from our virtual snow globe music box.   We hope you and your family enjoy all the beauty and all the blessings of the holidays. [...]

The Ratings Are in: Medical Conditions and Rated Ages Offer Settlement Options

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Claimants’ medical histories can reveal a wealth of information and opportunity. Do you know that a careful examination of the records can result in lower pricing for Structured Settlement annuities? Even medical conditions that are not related to the accident or injury incident are valid for rated ages. When calculating the cost or payout of a life-contingent future payment, annuity companies use a combination of current interest rates and individual life expectancy. [...]