April 26, 2017 3:19 PM ET


Company Overview of Reliance Standard Life Insurance Company

Company Overview

Reliance Standard Life Insurance Company, an insurance carrier, specializes in employee benefits solutions in the United States, Puerto Rico, and the U.S. Virgin Islands. It offers employee benefits insurance products, such as group long term disability, group short term disability, group term, group dental and vision, life/accidental death and dismemberment (AD&D), and business travel accident insurances. The company also provides absence solutions, including short term disability and long term disability (STD/LTD) management solutions; Family Medical Leave Act (FMLA) administration management solutions; total absence management solutions; and administrative services. In addition, it offers...

2001 Market Street

Suite 1500

Philadelphia, PA 19103

United States

Founded in 1907





Key Executives for Reliance Standard Life Insurance Company

Chief Executive Officer and Director
Age: 64
President and Chief Executive Officer of Group Benefits Business
Executive Vice President and Chief Executive Officer of Asset Accumulation Business
Age: 57
Chief Executive Officer of Custom Disability Solutions (CDS) Division and President of Custom Disability Solutions (CDS) Division
Chief Underwriting Officer and Senior Vice President of Underwriting
Compensation as of Fiscal Year 2016.

Reliance Standard Life Insurance Company Key Developments

Reliance Standard Life Insurance Launches Voluntary Hospital Indemnity Product

Reliance Standard Life Insurance Company has introduced a Voluntary Hospital Indemnity (VHI) product in time for the 2017 benefit year. With other employee paid lines like Critical Illness and Group Accident insurance, Voluntary Hospital Indemnity insurance helps employees cope with growing exposure to out-of-pocket health care costs. Designed to work alongside an employer's comprehensive medical plan, Reliance Standard's Voluntary Hospital Indemnity plan helps offset some of the costs associated with an inpatient hospital stay, including employee out of pocket deductibles, copays, medications, transportation. A covered employee can use the benefit to ease the financial strain caused by the hospitalization. A fixed benefit is paid directly to the covered individual when triggered by a hospital admission and further benefits are paid for each day of inpatient stay in the hospital. Flexible benefit amounts are available at the group level for hospital admission and room and board costs, with the option to add critical care and wellness screening benefit coverage if the employer desires. To help address these needs, Reliance Standard began offering employers Voluntary Critical Illness and Voluntary Group Accident insurance plans in 2011. These plans provide covered employees a lump sum cash benefit for an illness, injury or treatment as dictated in the policy. The coverages work independent of any health or disability insurance and can help close the financial gap created by a variety of unexpected expenses.

Reliance Standard Life Insurance Names Michael Wilbert as Senior Vice President, Sales

Reliance Standard Life Insurance Company named Michael Wilbert, Senior Vice President, Sales, reporting directly to President Chris Fazzini. In his new role Wilbert is responsible for Reliance Standard's sales production in the group benefits market nationwide. In addition to overseeing the company's sales organization, located across 27 regional sales offices, he is responsible for developing strategic distribution initiatives and partnerships in the group benefits marketplace. Wilbert will also direct expansion of Reliance Standard's integrated absence management and ADA management business in partnership with sister company Matrix Absence Management. Mr. Wilbert joined Reliance Standard in 1993 as a sales representative in Atlanta. He most recently served as vice president, group sales and marketing, in which he was responsible for the strategic operation and sales performance of the company's core employee benefits lines.

Reliance Standard Life Insurance Company Announces New Appointments

Reliance Standard Life Insurance Company (Reliance Standard), has named Christopher A. Fazzini as President; and Thomas W. Burghart as Executive Vice President, effective immediately. In addition, Mr. Fazzini will function as chief executive officer of the company's group benefits business, which includes employer paid and voluntary coverage options, medical stop loss and integrated absence management solutions. Mr. Burghart will serve as chief executive officer of the company's asset accumulation business, which includes a robust portfolio of fixed and indexed annuity products, and other financial instruments designed to help preserve and grow capital. President and CEO Larry Daurelle made the announcement, and will retain his post as CEO of Reliance Standard until his anticipated retirement next April.

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