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Insurance News

Insurance Commissioners’ Life Insurance Investigation Leads to Multi-State Settlement

The National Association of Insurance Commissioners (NAIC) announced in April 2012 a $40 million settlement with Metropolitan Life Insurance Company (MetLife) after an investigation by the NAIC Investigations of Life and Annuity Claims Settlement Practices Task Force that started in 2011. MetLife, as well as many of the nation’s other life insurance providers, routinely cross-checks…

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Unum – Listed as the 2nd Worst Insurance Company

Unum, previously known as UnumProvident, First Unum, and Paul Revere, is the largest disability insurance provider in the United States today. With profits reaching almost 900 million dollars, according to CNN Money, Unum is one of the most profitable and resourceful companies in the insurance market. And with great success comes bad publicity – Unum…

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Most Common Causes of Disability in 2011

According to the Council for Disability Awareness, the leading cause of disability in both new and existing LTD claims in 2011 was due to diseases of the musculoskeletal system and connective tissue. Some of the most common diseases of the musculoskeletal system and connective tissue include Arthritis, Herniated Discs, Degenerative Disc Disorder, Back Pain, Spine/Joint…

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Report: Insurers Can Manipulate Computer Systems to Broadly Underpay Injury Claims

Washington D.C. (June 4, 2012) — A new report released today by the Consumer Federation of America (CFA) has found that computerized claims’ systems used by most of the nation’s largest insurance companies can be easily adjusted to make broad-scale “lowball” claims’ payments to injured consumers that are less than what they should receive under their insurance…

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