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May 1, 2008

Maine gets $$ in Unum settlement

As part of a $676 million settlement agreement, Tennessee-based Unum Group will pay out roughly $5.2 million in additional benefits to 71 customers in Maine.

The settlement comes after the Tennessee Department of Commerce and Insurance last month released a four-year, multi-state review of the company's insurance claims practices. The review took four years to complete and was the product of a November 2004 agreement between the company and insurance regulators in Tennessee, Maine, Massachusetts and New York.

The review was undertaken because of complaints about Unum's claims handling practices, according to a press release from the Maine Bureau of Insurance.

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