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Penn Treaty Returns To Ky. LTC Market

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NU Online News Service, Dec. 29, 2003, 12:22 p.m. EST – Penn Treaty American Corp., Allentown, Pa., says it has received approval from regulators to resume selling long term care insurance in Kentucky.[@@]

Licensed agents in Kentucky can see rate books for approved products online, and Kentucky agents can order printed rate books starting Wednesday, Penn Treaty says.

Penn Treaty helped invent the modern U.S. LTC insurance market. The company stopped selling new LTC policies in late 2001, after regulators suggested that it needed more capital to support its obligations to policyholders.

Since then, Penn Treaty has raised more capital and obtained regulator permission to return to many states’ LTC insurance markets.