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October 2006 Archives

UNUM consents to $15,000,000 fine and process to correct denied claims back to 1997

On September 2, 2003, a group of state insurance regulators formed a multistate examination to determine if the individual and group long term disability income claim handling practices of UNUM reflected "systemic unfair claim settlement practices" as defined in the Unfair Methods of Competition and Unfair Deceptive Acts and Practices in the Business of Insurance Model Act (1972) or NAIC Claims Settlement Practices Model Act (1990) pursuant to the procedures established by the NAIC Market Conduct Examiner's Handbook.  Contemporaneously with the Multistate Examination, the United States Department of Labor (DOL) was conducting an investigation of UNUM pursuant to Section 504 of ERISA.

Alan C. Olson & Associates | 2880 S Moorland Rd | New Berlin, WI 53151
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