On October 23, S&C partner Marion Leydier moderated a panel at the New York City Bar Association’s 30th Annual Current Issues in Insurance Regulation conference, “Emerging Issues in Long-Term Care Insurance.” The panelists were Joshua Akbar, General Counsel of Genworth Financial’s long-term care insurance business; Patrick H. Cantilo, Managing Partner of Cantilo & Bennett, LLP; Peter G. Gallanis, President of NOLHGA; and Jan Graeber, Senior Actuary at the ACLI. The panel addressed the history of the long-term care insurance product, the difficulties that carriers and policyholders have faced, recent carrier insolvency proceedings, actions being taken by insurance companies and regulators to manage existing blocks of business and restructure the product going forward, and the impact of COVID-19.
This annual program brings together regional and national industry leaders to explore topical issues of importance to the insurance industry and is sponsored by the New York City Bar’s Insurance Law Committee.