Business Services Industry
States ratify UnumProvident disability claims handling deal.(News)(Brief Article)
Business Insurance, December, 2004 by CENICEROS, ROBERTO
Byline: ROBERTO CENICEROS CHATTANOOGA, Tenn.--Regulators in at least 40 states have ratified a national settlement agreement reached last month with UnumProvident Corp. over the disability insurer's claims handling practices. Final adoption of the agreement required insurance regulators in two-thirds of participating states to sign off on the deal.
UnumProvident's life insurance units have 15 days from the ratification date to notify more than 200,000 qualified claimants of their right to seek the reassessment of claims closed or denied since Jan. 1, 2000, for reasons other than settlement, death or reaching benefit maximums, according to the Tennessee Department of Commerce and Insurance. The reassessment of claims is also available for claimants...
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