NY S08072

Creates a "claimant's structured settlement broker" definition as a person appointed by a claimant or their legal representative to represent their interests in acquiring a funding mechanism or annuity policy for structured settlement agreements

Requires claimant's attorney or court to advise claimants in bold print of their right to secure a structured settlement broker whenever a structured settlement offer is made

Mandates that no funding mechanism or annuity policy may be approved unless the claimant's broker has been notified of all agreement details, provided copies of contracts and policies, and has approved all terms as being in the claimant's best interest

Prohibits defendants and insurers from refusing to enter structured settlement agreements solely because a claimant is represented by a claimant's structured settlement broker

Establishes that the claimant's broker's fee shall be paid from the standard commission paid by the annuity issuer rather than as an additional charge to the claimant, with the broker entitled to one-half of total statutory commission if no other agreement is reached

Takes effect thirty days after enactment and applies to structured settlement agreements entered into on and after that date