Want to Know How Much CIGNA and 26 Other Insurers Made Just From Long and Short-Term Disability Premiums?

They made a $1.3 billion killing!  And this is only the mid-year report.  You may wonder, like we do, why they all DENY claim after claim when they're raking it in like this?  It is, after all, a risk pool.  Take in a lot, pay out a little, right?  Picture of the Billionaires below says it all.

Link to report about disability earnings here--in all its glory.

It's a very interesting read.  For instance, The Hartford, you know them, they took $3.4 billion in bailout money, well, they reported the biggest profits in 3 out of the 4 categories for both long and short-term disability sales and earned premium results.  How's that make you feel, Joe and Jane Taxpayer?  I can tell you how we feel since The Hartford was the underwriter of my husband's LTD policy with CIGNA.  It makes me realize I will not stop pointing out their egregious behavior when they profit from a man like my husband with Progressive Multiple Sclerosis.  I. Won't. Stop.

The report was done by JHA.  From their website:
JHA is the disability and group life reinsurance, risk management and research division of General Re Life Corporation, which conducts business as Gen Re LifeHealth. Gen Re is one of the first and largest reinsurers in the world, and has superior financial strength ratings from the major rating agencies.

From the report:

JHA is pleased to present the 2009 U.S. Group Disability Mid-Year Market Survey. This annual survey provides the industry with an opportunity to benchmark sales and market growth for group disability products (LTD & STD) for the first half of the year. With 27 insurance carriers participating, the 2009 Mid-Year Market Survey covers approximately 95% of the group disability insurance marketplace. Unless otherwise stated, survey results are for Traditional and Voluntary business combined.
 
Sales Premium
On a combined basis (Total LTD & STD), group disability sales premium totaled nearly $1.3 billion at mid-year 2009. (Exhibit A) For companies providing comparable data for both years, results were unchanged from mid-year 2008.