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October 10, 2006 at 12:14 AM
Group disability insurers protected about 37 million U.S. workers against long-term disability at the end of the first half of 2006, 3% more than they protected a year earlier.
The number of U.S. workers protected by group short-term disability policies increased 5%, to 16 million.
JHA, Portland, Maine, published the revenue growth rates in a summary of results from a survey of 32 major U.S. disability insurers.
JHA, a disability risk management and consulting unit of the Berkshire Hathaway subsidiary, General Re Life Corp., found that premium revenue from new sales of long-term group disability insurance was down 11% and that premium revenue from new sales of short-term group disability was down about 12%.
But the number of LTD cases sold increased 5.5%, to about 23,000, and the number of STD cases sold increased 7.4%, to about 19,000.
