Business Services Industry
UnumProvident claims litigation generally not driving away corporate buyers.(News)
Business Insurance, April, 2003 by Ceniceros, Roberto
Byline: ROBERTO CENICEROS Corporate buyers of group disability coverage do not share the same concerns and complaints as the many individual claimants who are suing UnumProvident Corp., alleging improper claims-handling practices. The disability insurer has been a target of hundreds of lawsuits brought by individuals alleging unfair claims denial and termination, which also has attracted critical coverage of the company in the general media.
UnumProvident also has been fined $1 million by the Georgia Insurance Department and placed on probation for its claims-handling practices. But benefit experts say that most employers report largely positive experiences with the insurer and they are continuing to purchase UnumProvident group disability insurance...
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