Company Overview of Reliance Standard Life Insurance Company, Inc.
Reliance Standard Life Insurance Company, Inc., an insurance carrier, specializes in employee benefits solutions, including disability income and group term life insurance, a suite of voluntary (employee paid) coverage options, and fully integrated absence management. It offers group long term disability, group short term disability, group term life/accidental death and dismemberment (AD&D), group dental and vision, and business travel accident plans. The company also provides short term disability and long term disability management, family and medical leave act administration, total absence management, short term and long term disability management administrative services only plans, and a...
2001 Market Street
Philadelphia, PA 19103
Founded in 1907
Key Executives for Reliance Standard Life Insurance Company, Inc.
Chief Executive Officer, President and Director
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
Vice President and Treasurer
Compensation as of Fiscal Year 2014.
Reliance Standard Life Insurance Company, Inc. Key Developments
Reliance Standard Life Insurance Company Names Gregory Esemplare Senior Vice President, Underwriting
Dec 11 14
Reliance Standard Life Insurance Company has named Gregory Esemplare Senior Vice President, Underwriting. In his new role, Mr. Esemplare is chief underwriting officer for Reliance Standard, responsible for the overall planning and execution of underwriting strategies for the company’s group benefits product portfolio, including both employer paid and Voluntary lines. He is also responsible for oversight of the medical underwriting and contracts/policy issuance teams. A member of Reliance Standard’s executive leadership team, Mr. Esemplare reports directly to President and CEO Lawrence E. Daurelle. An insurance professional with 25 years industry experience, Mr. Esemplare has served in various sales and management roles with the company since 1997, most recently as Vice President, National Account Sales and Service.
The U.S. District Court for the Central District of California Grants Patterson Sue against Reliance Standard Life Insurance Company for Wrongful Denial of Claim
Jan 15 14
The U.S. District Court for the Central District of California granted summary judgment in favor of a named beneficiary who sued a life insurance company for wrongful denial of a benefits claim following the death of the insured. An incontestability clause contained in the policy applied to preclude the insurer from denying the plaintiff's claim. Dietrich died in March 2010, and Patterson subsequently submitted a claim for benefits under the policy. On Feb. 9, 2011, Reliance denied the claim because, at the time of the application, Reliance had not received proof of Dietrich's good health. After exhausting her administrative remedies, Patterson sued Reliance for wrongful denial of claim and moved for summary judgment. The district court noted the issue before it was whether a two-year incontestability clause contained in the policy barred Reliance from denying payment of benefits. The court found that based on the language of the plan, the required proof of good health qualified as a condition precedent. Condition precedent not fulfilled. The plan provided the insurance would go into effect only on the date Reliance approved the required proof of good health. There was no dispute that Dietrich never submitted proof of good health, and based on those facts, the court held she failed to fulfill a condition precedent required by the plan. The court further held, however, that under an applicable California appellate court precedent, an incontestability clause applied to a contest based on breach of a condition precedent. As a result, and because it was undisputed Dietrich timely paid her premiums and more than two years passed between the issuance of the policy and Dietrich's death, the court held the incontestability clause precluded Reliance from denying Patterson's claim for benefits under the policy. Patterson's motion for summary judgment was therefore granted.
The U.S. District Court Announces Judgment in Favor of Reliance Standard Life Insurance Company
Jun 17 13
The U.S. District Court for the Eastern District of California granted summary judgment in favor of a Reliance Standard Life Insurance Company in an action brought by beneficiaries to a life insurance policy alleging breach of contract and bad faith arising out of a claim for policy proceeds. Nicole Cox, Jaxden Edwards and Kyden Cox sued Reliance Standard Life Insurance Company alleging Reliance failed to make all required payments on a life insurance policy following the death of Steven Edwards, on whose life a Standard policy had been issued. The complaint alleged claims of breach of contract and bad faith. Reliance moved to dismiss, contending the claims were barred under ERISA. The district court noted that Steven Edwards was an employee of LKQ Corp. and secured the life insurance benefits under an ERISA-regulated employee benefits plan sponsored by LKQ. Reliance contended that it was not required to make payments under a supplemental life policy because Edward failed to provide a required proof of good health. The court noted that all five applicable factors established under relevant precedent favored a finding that the supplemental policy was governed by ERISA. The court rejected the plaintiffs' contention that the supplemental coverage could be severed from the plan as a whole to defeat ERISA coverage. LKQ's contribution to the basic life coverage plan applied to the supplemental plan, which was provided at a discount only to participants of the discount plan. In addition, the complaint sought only to rectify a wrongful denial of benefits promised under an ERISA plan, and did not attempt to remedy any violation of a legal duty independent of ERISA.
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