COLUMBUS: A lack of demand and regulatory uncertainty is killing off the insurance industry’s appetite to create long-term care products, providers warn.
Just a year ago, a prominent insurance association and the Government agreed a statement of intent pledging to boost awareness of care issues and encourage insurers to launch products to help people meet the cost of care.
However, some of the largest insurers say the industry will not develop solutions while there is no demand. In addition, they say there are potentially too many risks for reasonably priced products to create a market even if demand picks up…