Penn Treaty Saga Summarized

Philadelphia Inquirer article gives a short history of the Penn Treaty "rehab" debacle and where it stands now...

[I]Seven years later, Penn Treaty is still "in rehabilitation." But the deficit has grown: The state's current actuarial estimate is $4 billion. Losses grew as customers aged and actuaries recorded costs that might have passed quietly to reinsurance - a sort of insurer underworld of risk-swapping - if Penn Treaty had been liquidated when it was first taken over.

At that size, Penn Treaty would be the biggest health-insurance company failure in industry history, according to d
Source of insurance-forums.net

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