Having survived the credit crisis, extensive regulatory changes, and the negative press, the life settlement industry is still standing. With investors having found a new appreciation for uncorrelated investments, life settlements are emerging as a sensible part of an institutional investor’s portfolio. The frenzied pace of regulatory changes we saw over the course of the last several years has abated, as most states have either adopted new life settlement laws or amended their existing laws. In 2010 the U.S. Securities and Exchange Commission organized a Life Settlement Task Force to examine the business and made a key recommendation to amend the definition of a “security” to include all life settlements. Judicial activity continued in 2010 on issues such as an insurance company’s claim that insurable interest was lacking at the time a policy was issued and allegations of fraud. Portfolio sales are among the most active segments of the life settlement market today.