Life Insurance Settlement Association Updates

Thursday, May 28, 2009

ORLANDO, FL--(Marketwire - May 15, 2009) - The Life Insurance Settlement Association (LISA) is pleased to announce the results of their board of directors election recently held on May 8th in New York City. Of the five open seats, three were filled by returning board members and two new members. LISA welcomes Brad Thompson, president of Fidelity Assurance Associates, LLC, and Rob Haynie, managing partner of Life Insurance Settlements, Inc., as the newest members of the Board of Directors and looks forward to their contributions.

Mr. Brad Thompson previously served as chairman of the LISA Accounting Committee, which was an industry success. Mr. Thompson is currently serving on the LISA Best Practices Committee for financing entities and providers, which he originally co-authored with his business partner, Richard Guilford and others in 2005.

Mr. Rob Haynie has been a major influence in the evolution of the life settlement industry during his 16-year career of proactive involvement. Not only has he been directly involved in negotiating and settling several thousand contracts, he also served four terms as vice president of the LISA board of directors.

Following the board of director election, the LISA Board convened its regular officer elections and is proud to announce the results. LISA's board of directors elected Russel Dorsett as the new board president.

Mr. Dorsett is the director of Veris Life Settlements Partners, LLC, which has offices in Northport, NY, Rockville, MD and Houston, TX. He is known globally as an industry executive and consultant, having been a principal speaker at conferences and conventions across the world.

Mr. Dorsett has served as a senior executive for a number of major companies, including eight years as the managing director and CEO of AIA Australia (a division of AIG), a licensed insurance company, and AIA Superannuation Company, an Approved Trustee for Australian Retirement Plans. He also had regional responsibilities for AIG's life and A&H businesses in Australia and has extensive experience in the global insurance and financial services businesses. As a consultant, he has worked with a number of major global firms and is also affiliated with Improved Funding Techniques in retirement planning.

Mr. Dorsett has a degree in Biological Sciences and has held the Chartered Life Underwriter (CLU) designation for more than 25 years.

Mr. John McCarroll was elected as a vice president on the LISA board of directors. Mr. McCarroll, vice president and general counsel of Q Capital Strategies in Boca Raton, FL, and New York, NY, has served as a dedicated and dynamic board member of LISA for four years. Mr. MCarroll's efforts in the association have brought the industry to greater recognition.

Mr. Mark Goode will serve as a vice president on the LISA board of directors. Mr. Goode is president of Secondary Life Capital, LLC in Washington, D.C., and CEO of The Peninsula Group, LLC, and its services subsidiary Life Policy Dynamics, LLC. He is a two term member of the LISA Board, serves as chairman of the LISA Political & Legislative Committee and is recognized for innovation and leadership in the life settlement industry.

Mr. Thompson replaces former board secretary Richard Guilford, chairman and managing member of Fidelity Assurance Associates, LLC, who chose not to stand for re-election this term. Mr. Guilford always provided solid experience and guidance during his three terms on the LISA board and is a friend to all members of the board. The LISA board would like to thank Mr. Guilford for his exemplary efforts and guidance through the years.

Mr. Bill Potoczak, partner at Mills, Potoczak & Company in Cleveland, Ohio, will return as treasurer on the LISA board. He is a certified public accountant with 20 years of experience in public accounting and has responsibility for client service and administrative functions of his firm. Mr. Potoczak has served on the LISA board of directors for five years.

Other returning board members include:

Bryan Freeman, president, Habersham Funding (Atlanta, GA)

Brian Casey, partner, Locke, Lord, Bissell &Liddell, LLP. (Atlanta, GA)

Mike Fasano, president, Fasano Associates (Washington, DC )

Scott Gibson, senior vice president, Lewis & Ellis - Actuaries & Consultants (Richardson, TX)

Ramiro Rencurrell, director, Life Settlements for Magna Administrative Services, Inc (Miami, FL)

These election results provided strong reaffirmation of LISA's Mission, Standards and Bylaws which have guided the association to become the widely recognized "voice of the industry."

Established in 1994, the Life Insurance Settlement Association is the oldest and largest trade organization in the industry. Its goal is to promote the development, integrity, and reputation of the life settlement industry, and to promote a competitive market for the people it serves. LISA now represents over 150 members with a wide variety of interests in the industry. For more about the association, visit http://www.thevoiceoftheindustry.com/.