NU Online News Service, Jan. 27, 2004, 6:41 p.m. EST – Regulators are deciding whether it’s time to take another look at long term care products.[@@]
A group at the National Association of Insurance Commissioners, Kansas City, Mo., is conducting a review to determine whether the Long Term Care Insurance model act and regulation are actuarially up to date.
One of the topics coming up in discussions is pooling. In this context, pooling means combining data for the different blocks of LTC business that a company offers.
Florida is one of the states that pools. The approach can offer insight into claims costs and patterns of claims costs, says Frank Dino, an actuary with the Florida Department of Financial Services.
Other regulators say they can support pooling.