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UnumProvident Reaches Settlement with State of California

UnumProvident Corporation will pay an $8 million fine, change its claims handling practices, and engage in a reassesment of claims dating back to 1997, Insurance Commissioner Garamendi announced.  The settlement was reached after extensive negotiations by the Commissioner, who wanted more protections for California residents than was achieved as part of a 49-State settlement previously reached by between regulators and the company.