the_Bird

Genworth Financial Enters Run Off Mode - Others to Follow?

Personally, I would at least explore whether I could get coverage elsewhere if I had any kind of insurance policy with GNW - but do NOT let any coverage lapse in the meantime! GNW's LTC business would likely be sold off in the event of the company's failure, although the number of companies with the financial strength to make an acquisitions is pretty limited.

Note too that the state guarantee funds do set limits on how much they will pay out for claims. It's also possible, I believe, that in the event of GNW's failure and a subsequent takeover of these policies by another insurance company, it's entirely possible that the regulators will allow a premium increase as an inducement for the purchase.

If you can - I'd think about moving, but obviously the dynamic changes if the policy has been in force for a while and/or you've had health conditions that make you less insurable. Don't see a downside to exploring a switch, though.