Lincoln Financial to Write Temporary Disability Insurance in Hawaii

Lincoln National Corp. said it's been given the green light to sell temporary disability insurance in Hawaii.

The state of Hawaii requires employers with two or more employees to provide this coverage, which partially replaces wages lost when an employee is unable to work due to an off-the-job sickness or injury.

"Employers and brokers look to Lincoln to offer disability solutions, including state disability insurance. Lincoln is now very pleased to expand our expert disability services to employers who provide Hawaii TDI coverage to their employees," Dave Swanson, vice president, product, risk & business technology management, said in a statement. Attempts to reach the company for additional comment were not immediately successful.

Lincoln Financial wrote $1.01 billion in group accident and health direct premiums at year-end 2008, according to BestLink, which provides online access to A.M. Best's Global Insurance & Banking Database.

Lincoln Financial Group is the marketing name for Lincoln National Corp. (NYSE: LNC). Group insurance products are issued by the Lincoln National Life Insurance Co., Fort Wayne, Ind., except for in New York. In New York, group insurance products are issued by Lincoln Life & Annuity Company of New York, Syracuse, N.Y.

Lincoln National Life Insurance Co. and Lincoln Life & Annuity Company of New York both currently have Best's Financial Strength Ratings of A+ (Superior).

Shares of Lincoln's stock were trading at $25.53 a share on the afternoon of Feb. 19, down 0.74% from the previous close.

(By Meg Green, senior associate editor, BestWeek: [email protected])