UnumProvident is the nation’s largest disability insurer. If you are a teacher, they probably provide your disability insurance. And, they have been sued – AGAIN.
UnumProvident recently settled charges with 48 states about its delay in settling claims. 48 states? I wish I knew which two were missing. For fun, I googled UnumProvident delay claims and 699 hits came up. This is probably just the tip of the iceberg.
Insurers, be it life, health, disability, auto, homeowners, business, whatever, need to learn that they cannot delay in paying claims. As stated in a prior post, they make money by delaying claim payments. But, people pay into a system and expect to be paid timely when they make a covered claim. Do the right thing and pay the person. Maybe if the insurance industry started doing that they would gain the most important thing an industry can have – the respect of the public.