“Luann Petrellis of PricewaterhouseCoopers and Richard Newton of International Solutions L.L.C. briefed a group of state insurance regulators, at the Long-Term Care Insurance Task Force, on the LTCI run-off facility proposal last month. The consultants said the facility would give insurers a transparent, carefully regulated place to put unwanted blocks of LTCI business. . . . A run-off facility that absorbed blocks from many different issuers could help make the process of administering the blocks more efficient, by having one team oversee many blocks, rather than having each issuer continue to handle its own blocks of business, Petrellis told the task force.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Better or worse for policyholders?