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  • Disability insurer ordered to reconsider thousands of rejected claims

    first_img 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! Settling a three-year probe, California insurance regulators on Monday said they ordered UnumProvident Corp., the nation’s largest disability insurer, to reconsider thousands of claims and change the way it handles future claims. The settlement with the Chattanooga, Tenn.-based insurer, which also will pay an $8 million fine, came after regulators reviewed 1,000 disability claims by policyholders in the state and found that UnumProvident was systematically finding ways to get out of paying. Thomas Watjen, the company’s president and chief executive officer, said in a statement Monday that company officials disagree with allegations that claims were wrongly denied but agreed to the settlement to “remove the regulatory cloud that has been hanging over us.” As part of the settlement, reassessment notices will be mailed to about 26,000 California customers whose claims were denied or terminated between Jan. 1, 1997, and Sept. 30, 2005, UnumProvident officials said. AD Quality Auto 360p 720p 1080p Top articles1/5READ MOREThe top 10 theme park moments of 2019 Those policyholders will be able to have an independent, third- party medical review of their claims. The company will have to reinstate or begin paying claims if the independent reviewer sides with the policyholder, who will also be able to file an appeal if the claim is denied. The insurer settled similar allegations with 48 other states last year. Some 600 disability insurers covering Californians will be asked to submit their policies for review by the commissioner’s office. last_img read more