Unum Group Corp. to pay $676 million in extra benefits to claimants
Unum Group Corp. has paid about $676 million in extra benefits to claimants in connection with a review of past claims decisions, officials say.
Unum, Chattanooga, Tenn., has paid the benefits in the course of completing a claims reassessment process required by the state insurance regulators that have been participating in a large, multi-state examination of the company’s handling of disability claims.
In addition to reviewing past claims, Unum “has instituted policies and procedures to ensure its claimants are treated fairly going forward,” Massachusetts Insurance Commissioner Nonnie Burns says in a statement.
Massachusetts has been one of the 4 states helping to lead the multi-state exam process. The other lead states are Maine, New York and Tennessee. Those states and the U.S. Department of Labor negotiated the multi-state settlement agreement with Unum in 2004.
The agreement, endorsed by 48 states and the District of Columbia, required Unum to review claims processed between January 1997 and 2004, improve procedures for handling future claims and strengthen quality control systems.
Examiners believe Unum has complied with the terms of the agreement, Massachusetts officials say.
The claim reassessment process reversed, in whole or in part, about 42% of the claims reassessed, according to officials in Maine.
The case “is an excellent example of effective state-based insurance regulation for insurance consumers,” Maine Insurance Superintendent Mila Kofman says in a statement. “Regulators identified a problem and worked together to effectively address it.”
About the author: Gregory Michael Dell is an attorney and managing partner of the disability income division of Attorneys Dell & Schaefer. Mr. Dell and his team of disability lawyers have assisted thousands of long-term disability claimants with their claims against every major disability insurance company. Attorney Gregory Dell is a nationally recognized disability insurance attorney and the author of a long-term disability insurance law book published by Thomson Reuters, which is a legal reference for attorneys and judges. For a free consultation, please call 800-828-7583 or use our contact page.
Request a Free Consultation
Click here or call 800-682-8331 now!
We respond the same day. We represent disability insurance claimants all over the United States.
Similar / Related:
- Claimants under HSBC North America Holdings, Inc. Group Long Term Disability Benefits Plan sue Unum Life Insurance of America in Illinois and Nevada
- Federal judge OKs class action status for suit against Unum Group
- Court Orders UNUM to pay over one million dollars in attorney fees for long-term disability denial
- Unum profit falls in 4th quarter due to $167.6 Million in investment losses
- Unum Provident agrees to pay $8 Million to California Department of Insurance
Search Disability Cases & News