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A surge in very expensive claims caused stop-loss insurance benefits costs to spike in the fourth quarter of 2024 at Sun Life Financial's U.S. operations.
The company responded by increasing renewal prices by 14% and cutting ties with some plans with very high claims, according to Dan Fishbein, the president of the Sun Life US unit.
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Allison Bell
Allison Bell, a senior reporter at ThinkAdvisor and BenefitsPRO, previously was an associate editor at National Underwriter Life & Health. She has a bachelor's degree in economics from Washington University in St. Louis and a master's degree in journalism from the Medill School of Journalism at Northwestern University. She can be reached through X at @Think_Allison.
