Unum

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Unum (Template:NYSE) is a Chattanooga, Tennessee-based insurance company previously named UnumProvident, which was formed from the merger of two competing insurance companies, Unum of Portland, Maine, and Provident of Chattanooga. It is currently the largest disability insurance company worldwide. Unum also provides long-term care insurance and life insurance.

On April 11, 2007, after a year of development, Unum unveiled its new corporate logo.<ref>Jon Ward, Unum Unveils New Corporate Logo, Forbes.com, April 11, 2007</ref>

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Controversy

Unum garnered media attention in 2002 after attorneys who had sued the company went to national television outlets claiming the company had quotas for closing claims. The company countered the accusations by noting that "only 2% of the policyholders who filed a claim with the company ... were found not to be disabled" and that court judgments in the prior year were in the company's favor 75% of the time, although this amount is by case, not by total monetary obligation, which can be misleading.[1] In December 2004, the company and several states entered into a regulatory settlement agreement. Unum has also been branded an "outlaw company" by the former California Insurance Commissioner.<ref>Anon. Insurance Journal News Sept 2006</ref>

The LA Times published a major article on 4/12/7<ref>Daniel Yi Case reviews fall short for hurt workers LA Times (fee required)]</ref> updating problems with the multistate review.

Advising the United Kingdom government on claims since 1994, Unum is also involved with the UK's current, much criticised Welfare Reform Bill.<ref>Loukas Christodoulou Welfare or Wealth Care? Corporate Watch May 14, 2007</ref><ref>Jonathan Rutherford New Labour and the end of welfare, Compass Online April 25, 2007</ref>

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