Modest slowdown in premium growth distinguishes second-quarter financial results for MPL specialty insurers
We look at the financial results for medical professional liability (MPL) insurers for the second quarter of 2022.
This issue brief examines the relationship of benefits to premiums for reduced benefit options (RBOs) in the context of ongoing premium rate increases for long-term care insurance (LTCI). Policyholders usually can reduce benefits, and such RBOs are at the policyholder’s discretion. However, when significant cumulative rate increases make LTCI coverage less affordable, such rate increases may limit the policyholder’s viable options. What constitutes reasonable value for benefit reductions when a rate increase occurs? In the brief, we discuss:
This article was originally published by the American Academy of Actuaries.