New York State’s Insurance Department issued a list of 33 life settlement providers that met the requirements to be grandfathered during the application review process. The list of companies, including the largest providers in the industry, was much bigger than many industry observers had expected. Q Capital is one of the providers that is allowed to continue operating under the current guidelines. The procedure calls for these companies to have the authority to close transactions in the state while the insurance department reviews their applications. The providers will have to use the forms filed with the state for transaction closings. The full list of providers is available here.
