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UnumProvident Lawsuit News
Pennsylvania signs UnumProvident settlement
-November 23, 2004
Pennsylvania Insurance Commissioner Diane Koken signed the multi-state agreement requiring UnumProvident to change its claim practices and reassess certain claims going back as far as 1997. Under the Pennsylvania agreement, UnumProvident will reassess any individual or group long-term disability claim that was denied or closed since January 1, 2000, except for specific categories of closures, including settlement, death or payment of maximum benefits.
Pennsylvania's share of the settlement for its affected consumers will be at least $800,000. In the period since January 1, 2000 to now, there are 9,582 Pennsylvania claims that are eligible for reassessment.
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| Now Investigating Bad Faith Claims from the Following Carriers: |
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- Aetna
- Berkshire Life
- Central Life
- CNA
- Cigna
- DMS
- Equitable
- Guardian
- Hartford
- Insurance Co of North America
- Liberty Life
- Mass Mutual
- Mass Casualty
- Met Life
- Monarch Life
- National Life of Vermont
- New York Life
- Northwestern
- Provident
- Prudential
- Paul Revere
- Royal Maccabees
- Standard
- Trustmark
- Unum
- UnumProvident
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| UnumProvident $120 million agreement called "one of the most significant multi-state insurance regulatory actions in history" |
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Final approval of a multi-state settlement with UnumProvident Corp. over disputed handling of disability claims will cost the firm over $120 million to comply and require claims made as far back as 1997 to be reassessed. In addition, the UnumProvident settlement will require $15 million in fines be paid.
UnumProvident has been the target of as many of almost 3,000 lawsuits, in addition to a class action suit filed in 2002. For several years complaints and lawsuits continued to allege UnumProvident was unfairly and deliberately denying disability claims.
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