Corruption By Design

It is interesting to me that Unum’s attorneys never once questioned me at deposition about my role as a Compensation Specialist working in Jim’s Orr’s office acting as a go between Unum ‘s executive staff and Smith Barney transacting the trading and sale of stock options.

It may also be that Unum’s legal resources hoped to avoid any public disclosures of insider trading in and around the time of the merger with Paul Revere and the Provident Companies. Nothing has ever been asked or answered about the sudden disappearance of “The 1998 People Goals”, and the deliberate granting of employee stock options valued at nearly $60 per share that became worthless at $5 per share after the 1999 merger took place, [possibly] with the full knowledge of management…

While Unum’s executives lived the luxury of wealth, claims handlers felt the stress of managers who demanded more and more claim terminations. If you can, picture a work area with a large red thermometer on the wall keeping track of denials, and a service bell alongside a large fishbowl into which lottery tickets were placed by those lucky enough to deny multiple claims. Each “ding” of the bell signified another denial with applause.

On the half hour Unum’s managers drew a ticket from the fishbowl and awarded picnic gear, movie tickets, lawn chairs and other prizes to claims handlers who denied claims…

Claims handlers were also told to call claimants from the south with 8th grade educations and offer them settlements, and or offer larger numbers of settlements around the holidays when claimants were in need of money…

Unum’s legal department is now arguing that insureds and claimants should not be able to retain qualified assistance to help them manage their claims. Without outside assistance Unum will be able to deny more claims than ever and has gained the support of the Maine Attorney General who is bed with Unum’s agenda. One has to wonder if the Maine Attorney General isn’t in Unum’s pocket…

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