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Life Settlement Player Enters Sunshine State

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NU Online News Service, March 22, 2005, 3:10 p.m. EST

Life Settlement Solutions Inc., San Diego, is expanding into Florida.[@@]

Florida insurance regulators have licensed the firm to do business as a viatical and life settlement provider.

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Larry Simon, founder of LSS, notes that Florida has some of the strictest life settlement provider licensing standards in the United States.

To qualify for a Florida license, a life settlement company must submit a sworn application, a detailed plan of operation and an anti-fraud plan as well as evidence of financial security, Simon says.