Striking a Minor Chord: Best Settlement Options for Children

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For all the right reasons, courts scrutinize claims involving minors with extra caution. By their very nature, these are complicated cases. There are often complex medical expenses to consider, concerns over the security of the settlement funds themselves, not to mention emotional issues for the child and family to deal with. In cases involving a minor’s settlement, known in most jurisdictions as Minor’s Compromises, judges are likely to ask:
  • Is the minor receiving a fair settlement?
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CHRONOVO CONSULTING GROUP ADDS RENOWNED CLAIMS POWERHOUSE RICK WOOLLAMS AS ITS CHIEF CLAIMS OFFICER

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BURLINGTON, MASSACHUSETTS—September 28, 2017—Chronovo, Inc. announced the addition of Rick Woollams to its Chronovo Consulting Group as its Chief Claims Officer today. As the tech-enabled structured settlement broker redefining client expectations for settlement solutions and strategies, Chronovo formed the Consulting Group to meet its clients’ requests for more ideas and innovations. “Rick adds tremendous depth, dimension and passion to our team,” noted Ken Paradis, Chief Executive Officer of Chronovo. [...]

The Greatest Gift the IRS Ever Gave to Injured Individuals

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Every year millions of injured Americans confront critically important financial decisions as their personal injury litigation draws to a close. In planning the path forward and beyond their injuries, the stability and security of ongoing, lifelong income from their settlement, judgment or award proceeds becomes absolutely paramount. The money simply needs to last. Only one post-injury investment option – structured settlement annuities or “structures” – provides a continuing tax exemption for the growth of such benefits.   [...]

Is Bigfoot real? Are Liability MSAs coming?

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After a decade of discussions and a GAO recommendation to do so in April of 2012, CMS announced on February 3, 2017 that it will be re-tooling the technical capacity of each individuals’ Common Working File to track liability MSAs: https://www.cms.gov/Regulations-and-Guidance/Guidance/Transmittals/2017Downloads/R1787OTN.pdf. While the advent of liability MSAs has often sounded like reports of Bigfoot sightings in Oregon or reading too much into the end of the Mayan calendar in 2012, [...]

The Ultimate Financial Planning Hack: Invest Your Personal Injury Proceeds Like A Pro With a Structured Settlement

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Testimony for the smart, strategic, investment power of annuities is everywhere. Kiplinger’s and Vanguard have recommend laddering annuities as a critical feature of any financial or retirement plan because of the security and control that they provide. Barron’s has been even more strident in its support for fixed annuities specifically: “Why this new hunger for fixed annuities? As investors get real about how to turn their nest eggs into lifelong income, [...]

The Structure Goose and its Golden Eggs

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From Aesop’s infamous Fables comes ancient wisdom that has been treasured since the 6th century B.C. and re-spun throughout the millennia: the lesson of “The Goose That Laid the Golden Eggs.” You know the story. A poor man and his wife are gifted with a goose that lays a golden egg every day. Rather than enjoy this daily bounty and its certainty, the couple kills the goose, [...]

ExamWorks Clinical Solutions and Chronovo Announce iMSA: Structured Settlement Solution Improves Settlements for All Stakeholders

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Lawrenceville, GA—November 28, 2016ExamWorks Clinical Solutions (ECS) announced today an exclusive agreement with structured settlement broker, Chronovo, to deliver an innovative solution to the Medicare Set-Aside (MSA) space for workers’ compensation and liability settlements, called the iMSA. The iMSA enables all stakeholders in the settlement process to save resources and gain greater security. James K. Price, CEO of ExamWorks noted, “Our iMSA not only provides parties the cost estimation tools necessary to protect Medicare’s interests in the settlement, [...]

The Bold, New Settlement World

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Litigation Management’s spring 2016 feature cover story, written by Bill Wakelee and Debra Levy, analyzes the complexity of today’s structured settlement world and offers a bright forecast. Bill, Chronovo’s Chief Strategy Officer, is bullish on the prospects for meaningful and effective settlements that benefit all parties, thanks to new technologies and business models that are enabling professionals to tailor claimants’ precise needs to available settlement funds. [...]

The Place to Be for Risk Managers: RIMS 2016

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Chronovo is heading to San Diego this week for the RIMS 2016 Annual Conference & Exhibition Session. This industry-leading event features three days of world-class education sessions, inspiring keynote speakers, and an Exhibit Hall packed with innovative resources. In other words, it’s the perfect environment for Chronovo’s “new time” approach to structured settlements. We’ll see you at RIMS! [...]

CLM 2016 Launches with a Key Panel

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This year’s CLM Annual Conference, convening April 6-8 in Orlando, will feature a host of industry-leading speakers and presentations. Chronovo’s Chief Strategy Officer Bill Wakelee will be leading a session on “Claims Management: Settlement Funds and Investment Risk,” along with Debra Levy (CLM), Marques Torbert (Ametros) and Richard Woollams (AIG). Kicking off at 11am on Thursday, April 7 in the Hilton Orlando Bonnet Creek’s “Chronovo Room,” Bill’s panel will consider the behavioral science behind claimants’ [...]