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LTD INSURER CIGNA AGREES TO PAY $77 MILLION DOLLARS TO SETTLE CLAIMS

HartfordBusiness.com is reporting that LTD Insurer Cigna has agreed to pay $77 million dollars to settle claims brought by regulators in four states for improperly handling long term disability claims.

While it is not clear what initiated this particular dispute, it has been this firm’s experience that we see more complaints about Cigna LTD claims and cases than any other LTD carrier. In fact, we see more Cigna cases than most of the other LTD insurer’s combined. Cigna is my most “frequent flier.” I am not sure of that is because Cigna has the largest market share or if it is a result of its claims handling decisions. It would seem this regulatory settlement might favor the latter explanation. This reminds me of the Unum regulatory settlement almost 10 years ago. It will be interesting to follow this story as more details emerge.

If you have a Cigna claim that has been denied give us a call for a free consultation.

http://www.hartfordbusiness.com/article/20130522/NEWS01/130529904