NU Online News Service, Aug. 27, 12:45 p.m. – Penn Treaty American Corp., Allentown, Pa., says Tennessee regulators have given it permission to resume selling long-term care insurance in Tennessee.
The company will sell its policies in Tennessee through its largest subsidiary, Penn Treaty Network America Insurance Company.
Penn Treaty, which helped develop the modern U.S. long-term care insurance market, stopped selling long-term care insurance in Tennessee and most other states in 2001 after regulators complained about the company’s low capital levels. The company recently overcame state regulators’ concerns by setting up a contract to reinsure LTC insurance policies that were already in force.
The company has now received approval to resume selling LTC insurance in 30 states.