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Penn Treaty Returns To Illinois LTC Market

By Staff Writer

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NU Online News Service, Jan. 22, 10:04 a.m. – Penn Treaty American Corp., Allentown, Pa., says Illinois regulators have given it permission to resume selling long-term care insurance in Illinois.

Penn Treaty will sell LTC coverage in Illinois through a subsidiary, Penn Treaty Network America Insurance Company.

Penn Treaty helped develop the modern LTC insurance market, but it stopped selling new LTC policies in September 2001 because of regulators’ concerns that Penn Treaty’s sales were outstripping its capital reserves. The company has been working since then to raise capital and get back into the LTC market.