Government Is Not Required To Make Future Payments After Insurer’s Insolvency

Mealey's (April 24, 2017, 5:54 PM EDT) -- WASHINGTON, D.C. — While the U.S. government contracted to purchase annuities to make future, monthly and periodic lump-sum payments under a settlement agreement, the government did not guarantee that it would make the future payments in the event of an insurer’s insolvency, a judge in the U.S. Court of Federal Claims held April 21 (William T. Hendrickson and Patricia Hendrickson v. The United States, No. 15-1406C, Fed. Clms, 2017 U.S. Claims LEXIS 369)....