"Business Maine: Southern" piece on a confidential report compiled for Maine reg

    Source

    Mainebiz

    Date

    4-12-2004

    Pages

    6

    Abstract

    "Business Maine: Southern" piece on a confidential report compiled for Maine regulators before the merger that resulted in UnumProvident in 1999. The report accurately predicted that the reserves of Unum Corp. and The Provident Cos. would fall as well as the changes in claims-handling policies that foreshadowed lawsuits and negative publicity in 2002 and 2003. The report stated that projected income from premiums was unrealistic. Despite the report, regulators decided not to block the merger.

    Subjects

    Unum Corporation Portland, UnumProvident

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