April 26, 2017 3:19 PM ET

Insurance

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

Phone:

267-256-3471

Fax:

267-256-3531

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.

Similar Private Companies By Industry

Company Name Region
1st Atlantic Surety Company United States
212 Capital Group, LLC United States
21st Century Life and Health Company, Inc. United States
3 Mark Financial, Inc. United States
534 Las Americas, LLC United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
The Advertising Council, Inc. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Reliance Standard Life Insurance Company, please visit www.reliancestandard.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.