So, in this business at least, transparency remains a cracked one-way glass.
I'm sure you've heard about this one. The U.S. Attorney out of San Diego managed to squeeze $5.5 million worth of fines and penalties out of Unum Group earlier this week. The federal prosecutor took issue with the company's unreported "special fees" it paid to a San Diego broker, which of course runs afoul of ERISA.
It's worth noting that Unum voluntarily reported this arrangement and cooperated fully with the feds.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
