Michael J. Pickett, CSSC

Today’s structured settlement climate demands proficient, cost-effective services that are timely and objective. As an industry leader, Summit reflects this tradition of excellence inherent to the industry, providing unmatched structured settlement services.
Our unique combination of knowledge and experience paired with traditional broker services provides the highest quality products available in today’s marketplace. We make it easy to do business. Our friendly, efficient services satisfy each client’s unique situation. Our strong work ethic combined with anticipation of the client’s future needs positions Summit as a pinnacle in the industry.

Summit brokerage offices are part of a national network headquartered in Des Moines, Iowa, with 41 independent offices across the United States. All brokers in this organization are members and supporters of the National Structured Settlement Trade Association (NSSTA) based in Washington, D.C. many since its inception in 1985. Summit is a well-respected name in the structured settlement profession.

Our national network positions us to serve national plaintiff firms and individuals alike. It is also through this network that we have access to all major life insurance companies that have products designed exclusively for use in structured settlements. Structured settlement products are distributed, as a rule, only through full-time structured settlement brokers. They are not normally available from financial planners, brokerage firms or life insurance agents, even the companies’ own career agents. Additionally, we have access to bond trusts, which assume the obligation to make future payments to the claimant, as a qualified assignment, funded by obligations of the United States of America.

We continually strive to provide the best options and solutions to our clients. The commitments that we offer to our clients are unwavering and second to none. We will attend settlement conferences or assist in negotiations at no cost to you or your client. We will assist in preparation of all settlement agreements, review documents for compliance with IRS guidelines related to structured annuities and prepare all assignment documents and annuity applications necessary to settle the case and have the annuity contracts issued.

It is critical that the plaintiff attorney secure his/her own Certified Structured Settlement Consultant and have his/her own due diligence performed as this is the only way the plaintiff attorney can protect his/her client and secure the best possible combination of financial security and pricing for his/her injured client. It should be noted that the courts have found plaintiff attorneys liable (*see case citing below) because the defense provided structured settlement brokers owed no duty or loyalty to the plaintiff or his/her attorney. A defense provided or “defense approved” structured settlement broker really only has one function, which is to reduce the defense insurance company’s cost of settlement at the plaintiff’s expense. That function is obviously at odds with your duty to your client, and can put you in the line of malpractice fire.

*see Macomber v. Travelers Property & Casualty Ins. Co. et al 804 A.2d 180 (Conn. 2002)
* see Lyons v. Medical Malpractice Insurance Association 286 A.D.2d 711 N.Y.S.2d 345 (2d Dept. 2001)


Summit Settlement Services
Structured Settlements
Structured Installment Sales

MICHAEL J. PICKETT, CSSC - LOS ANGELES


Mr. Pickett has over 30 years experience in the insurance industry, beginning as a Licensed Life, Disability, Health and Casualty Broker with a major national insurance company in 1977.

President of Michael J. Pickett Insurance Services Inc., a brokerage agency specializing in Life and Annuity products since 1983.

Mr. Pickett has been providing Structured Settlements since 1985. Mr. Pickett has been instrumental in the successful settlement of numerous catastrophic cases throughout the nation in the ensuing years.

In 1994 Mr. Pickett joined Summit Settlement Services, one of the industry’s largest premier structured settlement firms with over 41 offices throughout the United States.

In 1997, the National Structured Settlements Trade Association (NSSTA), in conjunction with the University of Notre Dame, conferred upon Mr. Pickett the designation of Certified Structured Settlement Consultant (CSSC), in recognition of his successful completion of course study culminating in a comprehensive examination covering such topics as insurance casualty claims practice, state and federal laws pertaining to tort settlements, special needs trusts, federal tax law, fixed income analysis, negotiation strategy and business ethics. There are approximately one-hundred fifty professionals from across the nation to have earned the CSSC designation since it was first offered in 1993.

During the past two decades Mr. Pickett has specialized in the personal injury, product liability, medical malpractice and wrongful death area of claims settlements. Mr. Pickett also provides plaintiff attorneys with tax-deferred fee structures and property and business owners with tax-deferred insured installment structured sales. Mr. Pickett works diligently to secure the best combination of financial security and benefits for seriously injured claimants and is a tireless advocate for the claimant’s right to income tax free guaranteed periodic payments.

Mr. Pickett is currently the Regional Director of Summit Settlement Services, and a member in good standing of the National Structured Settlement Trade Association, the National Life Underwriters Association, numerous local claims associations, the Consumer Attorneys Association and a founding member of The Society of Settlement Planners, a plaintiff oriented association representing plaintiffs’ structure financial planning.