Question
Is it reasonable for Unum to settle for 25% to avoid an ERISA case?
Unum is trying to settle for 25% of the value to avoid an ERISA case, is this reasonable? Does Unum always appeal if the plaintiff prevails in an ERISA case? If one settles with Unum, is it possible to bring a civil case against the reviewer, physician, or company president, individually or as a whole? What about the employer with whom the benefits were through? Feeling frustrated as it appears only the employee/patient is the one that suffers in these cases. Thank you.
Answer
FeelingFrustrated, if your case is already in litigation and you are represented I would have to defer to your attorney. That being said, depending on the nature of the policy, the language therein, and the facts of the case, most insurance companies look to settle claims at 25% to 35% of value – sometimes less and sometimes more. It really is very much fact specific.
