Richard Halpern, founder and President of The Halpern Group , died December 14, 2009 at age 64.
Halpern was one of the most important and controversial pioneers, critics and contrarian thinkers in the history of the structured settlement industry.
Halpern's education and training included electrical and computer engineering. Halpern started his professional practice in 1973 as a financial planner. At one time his insurance brokerage company was one of the largest in New Jersey.
Halpern entered the structured settlement industry in 1982 and subsequently clashed with the National Structured Settlement Trade Association (NSSTA) and the traditional NSSTA structured settlement business model. The Halpern Group business model focuses on plaintiff attorneys (especially the American Association for Justice) and their clients instead of defendants and their insurers.
Risa Lower, who worked with Halpern for 31 years and now serves as Acting President of the Halpern Group, offered this assessment of Halpern's contribution to the structured settlement industry: "Rich believed in the civil justice system and helping plaintiffs. Rich introduced products other than annuities. He gave plaintiffs a choice and changed how plaintiffs and plaintiff attorneys look at structured settlements."
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