Challenge

Coventry, a global financial services firm as well as the leader and creator of the life settlement industry, sought to utilize the market’s potential and allow policy owners to transform unnecessary life insurance policies into valuable assets. Coventry is dedicated to increasing legislative regulation of the industry in order to gain and maintain consumer trust. Coventry contacted Keswick Consulting in order to develop a legislative and political strategy for a bill providing proactive regulation safeguarding the industry and its consumers. 

Solution

Keswick Consulting worked closely with Coventry to develop effective legislation and set meetings with members of the legislature to promote and advance Coventry’s position. Keswick Consulting leveraged its relationships with decision-makers at the Division of Insurance, the Massachusetts House & Senate, and the Financial Services Committee, on the merits of this bill. 

Results

Keswick Consulting successfully negotiated the legislation with the Insurance industry and the bill passed both the House and Senate. The Governor signed the bill into law. With the passage of the bill, policy owners’ property rights to their life insurance policies are protected, allowing them to obtain the market value for unnecessary and unaffordable policies. Consumers now maintain control of their own policies, and the sustainability of Coventry and the life settlement industry is secured allowing them to continue to grow and thrive.