About

 

Welcome to NASP

For over 20 years, the National Association of Settlement Purchasers (NASP) has been a leader in setting standards and implementing best practices in the Secondary Market for structured settlements. NASP strives to improve awareness and understanding of how this vital market works, as well as to ensure the market remains fair, competitive, and transparent.

Our work includes working with judges, state legislators, the U.S. Congress, attorneys general, and other state regulators to enact and update current legislation and consumer protections in the secondary market. In 2001, for instance, NASP and other industry leaders developed the Model State Structured Settlement Protection Act, which provides a template for states to model their own structured settlement laws. NASP has worked with NCOIL and others on several occasions to update and reenact the NCOIL Model Act since 2001.  The Act requires settlement purchasers to disclose the financial terms of a transaction before any contract is signed and stipulates that no structured settlement transfer is effective unless authorized by a court of law. Today, 49 states have passed settlement transfer laws requiring disclosures and court approval of structured settlement transfers.