Bourhis & Wolfson respectfully urge state Insurance Commissioners who have not yet done so, to refrain from signing on to the Multistate Settlement with disability insurer UnumProvident (UNM-NYSE) and a few of its subsidiaries. Although it supposedly promises to reopen 215,000 claims closed pursuant to a long list of unfair claims handling practices, the proposed Settlement is totally inadequate and fails to protect the hundreds of thousands of disabled insureds whose disability benefits were wrongfully denied or terminated. The following is a list of same of the many deficiencies in the proposed Settlement:
1) It provides no admission or findings of wrongful conduct by UnumProvident et al;
2) It provides for no outside monitoring of compliance with the Settlement. In fact, the proposed reevaluation process permits the same people who first made the unreasonable decision to deny a claim to review their own decision;
3) It forces claimants to request a reassessment of their claim, and to essentially prove their case again by providing more documents. Reassessment should be automatic based on the information in the companies’ files;
4) It exempts from reassessment and ignores cases in which UnumProvident pressured its insureds to “settle” their claims for pennies on the dollar;
5) It lets the company off scott free with a meager $15 million fine-barely a slap on the wrists to a company that boasts $10 billion in annual revenue;
6) It forces insureds to waive all rights to recover for interest of past due claims, for emotional distress, attorneys fees, and punitive damages to which they may be entitled because of UnumProvident’s wrongful denial of benefits;
7) It fails to cover UnumProvident claim denials on policies originally written by John Hancock, The Equitable, General American, New York Life, Met Life, National Life, Vermont Life, and others. These policies account for as much as half of UnumProvident’s disability business.
8) It fails to call for the resignations of the top executives who orchestrated and enacted the very practices the Settlement seeks to remedy.
Bourhis & Wolfson encourages all interested individuals to contact their state Insurance Commissioner to urge them to reject the proposed Settlement.
For more information, contact Bourhis & Wolfson at 1-800-264-2082.
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Bourhis & Wolfson respectfully urge state Insurance Commissioners who have not yet done so, to refrain from signing on to the Multistate Settlement with disability insurer UnumProvident (UNM-NYSE) and a few of its subsidiaries. Although it supposedly promises to reopen 215,000 claims closed pursuant to a long list of unfair claims handling practices, the proposed Settlement is totally inadequate and fails to protect the hundreds of thousands of disabled insureds whose disability benefits were wrongfully denied or terminated. The following is a list of same of the many deficiencies in the proposed Settlement:
1) It provides no admission or findings of wrongful conduct by UnumProvident et al;
2) It provides for no outside monitoring of compliance with the Settlement. In fact, the proposed reevaluation process permits the same people who first made the unreasonable decision to deny a claim to review their own decision;
3) It forces claimants to request a reassessment of their claim, and to essentially prove their case again by providing more documents. Reassessment should be automatic based on the information in the companies’ files;
4) It exempts from reassessment and ignores cases in which UnumProvident pressured its insureds to “settle” their claims for pennies on the dollar;
5) It lets the company off scott free with a meager $15 million fine-barely a slap on the wrists to a company that boasts $10 billion in annual revenue;
6) It forces insureds to waive all rights to recover for interest of past due claims, for emotional distress, attorneys fees, and punitive damages to which they may be entitled because of UnumProvident’s wrongful denial of benefits;
7) It fails to cover UnumProvident claim denials on policies originally written by John Hancock, The Equitable, General American, New York Life, Met Life, National Life, Vermont Life, and others. These policies account for as much as half of UnumProvident’s disability business.
8) It fails to call for the resignations of the top executives who orchestrated and enacted the very practices the Settlement seeks to remedy.
Bourhis & Wolfson encourages all interested individuals to contact their state Insurance Commissioner to urge them to reject the proposed Settlement.
For more information, contact Bourhis & Wolfson at 1-800-264-2082.
This company, UnumProvident, has made my life hell. If there is a Minnesota claimant class-action lawsuit pending, I’d sure like to know about it.
This settlement does not do nearly enough to compensate people like me for what they have done to our/my lives/life.