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Texas Looks At LTC Sales (Updated)

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Long term care insurers are facing an investigation in the Lone Star state.

Genworth Financial Inc., Richmond, Va., says one of the company’s subsidiaries, Genworth Life Insurance Company, has received a civil investigative demand from Texas Attorney General Greg Abbott for documents concerning its LTC business in Texas, according to a report Genworth filed Nov. 10 with the U.S. Securities and Exchange Commission.

“It is our understanding that all writers of long term care insurance in Texas have received this request for information,” a spokeswoman for Genworth states. “We responded to this request in October and will continue to cooperate with the Attorney General’s office.”

As of press time, Abbott’s office had not responded to requests for comment.