CHATTANOOGA, Tenn.--(BUSINESS WIRE)--
Leading benefits provider Unum
(NYSE:UNM) is entering a new market with the launch of Unum Stop Loss.
“Entry into this market broadens the scope of financial protection Unum
provides and increases the value we bring to employers,” said Rich
Williams, senior vice president and general manager of Unum’s new Stop
Loss business.
Stop loss covers self-insured employers if their employees’ medical
claims exceed expectations. The coverage also gives employers more
flexibility in designing and managing their health plans.
Unum will begin selling policies late summer with effective dates of
Jan. 1, 2018. The product will be available nationwide once the rollout
is complete.
“This is an important component of our growth strategy,” said Unum US
President and CEO Mike Simonds. “We’re capitalizing on our strengths in
distribution, scale, and risk management to enter this attractive
market.”
Unum launched Unum Dental and Vision earlier this year through the
acquisition of Starmount Life in Baton Rouge, La.
About Unum
Unum Group (www.unum.com)
is a leading provider of financial protection benefits in the United
States and the United Kingdom. Its primary businesses are Unum US,
Colonial Life, Starmount and Unum UK. Unum’s portfolio includes
disability, life, accident and critical illness, dental and vision
coverage, which help protect millions of working people and their
families in the event of an illness or injury. The company reported
revenues of $11 billion in 2016, and provided $6.9 billion in benefits.
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Unum Group
Kelly Spencer, 423-294-4508
Kspencer2@unum.com
Source: Unum Group