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Structured Settlements: An Emergent Study

This article deals with what as been described as the most important reform of damages for personal injury in modern times: the development of the structured settlement. To counter the criticisms of the once-and-for-all lump sum system the concept of a structured settlement was developed in the 1980's. It enabled seriously injured claimants to receive regular annuity-based payments which could be guaranteed to last for their lifetime. In addition, the payments were free of tax and could be protected against inflation in prices. Claimants receiving structured payments were relieved from the stress of having to invest and be responsible for a lump sum far greater than most people encounter in their lifetime.This article traces the emergence of the structured settlement from its origins in the USA. It relates how the concept was transplanted via forensic accountants into the UK with the assistance of the Inland Revenue.The article provides a socio-legal analysis of the development and relies upon many unpublished sources.