Wall Street takes on long-term care payouts as insurers balk at costs
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NEW YORK (Reuters) - Some U.S. insurers are turning to Wall Street's financial wizards for relief from the liabilities of their long-term care (LTC) policies, posing a challenge for regulators worried about how new industry players will tackle the risks involved.These policies help support the provision of care to those unable to handle everyday tasks, such as bathing and cooking, by funding assisted living or nursing home arrangements. Many have become financially toxic for insurers, because of..