LTD market still competitive, but some trying to raise rates.(News)

Business Insurance, February, 2004

Byline: ROBERTO CENICEROS Although some group long-term disability insurers are striving to raise rates, employers for now can avoid large premium increases, brokers say. A competitive marketplace and the ease of changing providers continue to suppress insurers' efforts to boost rates, brokers explain.

Although some disability insurers in certain instances are renewing coverage at existing rates, some brokers see signs of market hardening and insurers having to take a harder line because of increasing losses and shrinking profit margins. As employers demand more services from their insurers, such as integrated disability management, and as insurer profits suffer under rising claim trends, fewer insurers are willing to renew business at existing rates,...

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