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April 28, 2008 at 02:21 PM
Group disability insurers protected about 40 million U.S. workers against long-term disability in 2007, 5% more than they protected in 2006.
The number of U.S. workers protected by group short-term disability policies increased 3%, to about 17 million.
JHA, Portland, Maine, has published a statistical portrait of the disability market in a summary of its latest annual group disability market survey.
The disability risk management and consulting firm found that premium revenue from new sales of long-term group disability insurance jumped 18%, to $1.5 billion, while premium revenue from new sales of short-term group disability rose 10%, to $651 million.
Premium revenue for group policies already in force increased 4% for STD coverage, to $3.3 billion, and 6% for LTD coverage, to $9.5 billion, JHA reports.
