OLDWICK, N.J.–(BUSINESS WIRE)–The U.S. health industry is bracing for what further action in the
possible Penn Treaty liquidation could hold for the sector, as managed
care providers have argued that they should not be liable for the
failure of a long-term care insurer. According to a new A.M. Best
special report, any action in the Penn Treaty case could set a
precedent, and any changes in favor of health insurers would likely come
at the expense of the life insurance industry.
The Commonwealth Court of Pennsylvania had placed Penn Treaty into
rehabilitation in 2009. The action was driven by the companys projected
insolvencies due to its inadeq…
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