In yet anther scandal by corporate America, the largest disability insurance carrier in the United States is accused of purposefully denying rightful benefits to policyholders in order to increase corporate profits.
UnumProvident was fined $1 million in March by insurance regulators in Georgia. â€œThey were systematically looking for any possible shred of data or excuse to deny a policy,â€ said the Georgia State Insurance Commissioner.
New York State Attorney General Elliot Spitzer brought a lawsuit against UnumProvident in November 2004, resulting in a $15 million fine. "These claim denials involved vulnerable workers â€“ those whose illnesses and injuries prevented them from continuing their employment,â€ said Mr. Spitzer. "This settlement sends a strong message to disability insurance companies that improper denials of disability claims will not be tolerated".
In April 2003, a federal jury in Arizona awarded $84.5 million to an injured policyholder after finding that UnumProvident and MetLife, Inc acted in bad faith in their handling of the claim.
These prior cases show that, with proper legal council, every American has the ability to fight and win against corporate greed. If you or someone you know has been wrongfully denied a disability insurance claim, contact the Jacoby & Meyers Law Offices
at 1-888-522-6291 for a free consultation.
UnumProvident is affiliated with the following subsidiaries:
-First Unum Life Insurance Company (NY only)
-Provident Life and Accident Insurance Company
-Provident Life and Casualty Co.
-Provident Life and Casualty Insurance Company (NY only)
-The Paul Revere Life Insurance Company
-Unum Life Insurance Company of America
About the Author
Jacoby & Meyers believes when someone pays their insurance premiums in good faith they should receive the same honest, responsible treatment from the insurance company in return.