In New York, at the end of the day how many carrier's actually make payment in 21 days pursuant to CPLR Section 5003(a)?

When CPLR Section 5003(a) was enacted I know I got really excited...I presume other members of the plaintiff's bar were pleased as well. The section provided that for non-municipal defendants, the settlement check would have to be sent within 21 days of receipt of the release and settlement documents from plaintiff's counsel. It even provided for a mechanism to enter judgment ex-parte if the payments weren't made in timely compliance with the statute.
So has the statute worked? My honest opinion, no! Let's look at the different scenarios that plaintiff's have had to navigate around to get their settlement monies.
1The statute allows municipal defendants[like the City of New York ] 90 days to pay. As usual, they pay when they want to;
2. NYCTA- never pays on time. Whether it's "we lost your papers", "problems with the affidavit of no liens" or some other reason, they are not the world's fastest payers;
3. FOJP-on malpractice cases they always negotiate a "waiver of 5003(a) at the time of settlement[usually 45 of 90 days];
4. American Transit-habitually tardy.
5Countrywide-don't even go there.
And let's not forget on infant's settlements, wrongful deaths, New York State Liquidation Bureau settlements and now Medicare,.....it can take a year and a day to get your money.Of course a structured settlement always causes delays.
So what defendants[carriers] actually pay your settlement within 21 days? Allstate, State Farm, Geico, Progressive and Met. Life; The same carriers who have always paid on time.
So is the statute useful? You be the judge.

Stuctured Settlemements Are Not For Everyone.

For the past five years I have originated funding transactions and have worked with trial lawyers nationwide. Before that, I tried cases for 20 yrs. So based upon 25 years of my interaction with attorneys, clients and insurance carriers, I have come to one clear, unwavering conclusion; structured settlements are not for everyone.
We all know why "structures are pushed";
1. Judges push them to "protect the plaintiff";
2. Attorneys use them to beef up a settlement, because a carrier proposes it, because some lawyers actually care about the client's financial well-being after the settlement and for a variety of other reasons and
3. Carriers use them for the obvious financial reason; i.e. Allstate Life Insurance Company issuing an annuity for Allstate Property and Casualty is a "paper transaction" where the money($) stays in the Allstate Family earning untold amounts of interest.
Yes, structured settlements are good in certain situations; a brain damaged baby case, an infant with severe life-altering injuries, young children who are distributees in a significant wrongful death case and victims of disabling traumatic brain injuries.
But even in the most appropriate cases, the amount of money placed into the structure must be balanced with the amount of" upfront cash" going to the client or familiy. Otherwise, the client buys a house, runs out of money, and then not even a year post-settlement the client is looking to sell a payment or stream of payments from the annuity(These transactions require Court approval pursuant to the GOL).
A structure is not appropriate for settlements under $50,000, or where 80% of the money is put into a structure and 20 % is paid as upfront cash. I grimace when I see the first payment under an annuity contract coming due 10 years or more after a settlement....I guarantee you no one , unless financially secure independent of the annuity ,can hold out for the first payment. And then there's those hard- headed, stubborn, recalcitrant clients who "just want their money and want it now"! Nothing you can do about it.
So the moral of this story is; Don't push a structure for the sake of pushing a structure; Remember they are not for everyone.

Are Allstate, Countrywide and American Transit Winning?

As we all know over the last 10 yrs., these three carrier's have been the most difficult to settle mva cases with, make the most threshhold motions and take more verdicts than most. The question that comes to mind is , "are they winning the war" thru their obstinence.
One could argue yes. I have a particular attorney -customer in .N.Y. who when he sees one of these insurance company codes on the police report will not take the cases. Other attorneys fold"like a cheap suit" the minute they see a summary judgment motion on "serious injury" or when the carrier takes a "no pay position".
But on the other hand there is that great breed of litigators who don't care about codes or carriers, will fight every sj motion thru the App. Div. and will also take verdicts , sometimes for no other reason than to let Allstate know "I'm not going to be easy". Plus, in New York there are so many personal injury lawyers that someone will always take a case.
Moral of the story; If you're looking for easy money stay clear of these carriers; if you are prepared to litigate a case based on the underlying merits[not the def't carrier} , then continue to do what you do best....File suit!!