MetLife is offering reinsurance agreements that enable the transfer of periodic payment obligations not assignable under Internal Revenue Code Section 130 from one licensed insurance company to another.
Reinsurance agreements are commonly used to fund workers’ comp settlements and ongoing periodic payment obligations including transfers from self-insured employers. Reinsurance agreements provide language that releases the initial carrier of future liability
Other uses for reinsurance agreements include policy buyouts, environmental claims, property damage claims, disability claim settlements and funding disability benefits, punitive damages, wrongful termination, discrimination and harassment claims, other non-physical injuries and standalone attorney fee structures.
Please let me know if you’d like more information on how reinsurance agreements might be of benefit to your client.