The most well know and largest life settlement association in the world is LISA or Life Insurance Settlement Association. LISA is a non-profit trade organization that is based out of Orlando, Florida. LISA was established in 1994 and their main objective is to encourage the growth, integrity and reputation of the settlement industry. They also encourage a competitive market for the people it represents. Today more and more states are now implementing a life settlement association to represent life settlement participants in their state. The California Life Settlement Association or CALSA was formed in 2005 to improve and defend the interests of the life settlement industry in California. CALSA’s efforts have involved three separate projects. The first, had to do with a bill that would create a structure for licensing and impose different requirements on transactions, this bill failed to pass. The second was to expand the regulations of a viatical transaction with the help of the California Department of Insurance. The third has to do with a bill that was introduced by Senator Machado in 2008 that included provisions on licensing requirements and several restrictions on settlement transactions CALSA opposed this bill.
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