The Closed Block segment consists of individual disability, group and individual long-term care, and other insurance products no longer actively marketed. Individual Disability: The majority of the policies represent individual disability insurance which was written on a noncancelable basis and was marketed on a single-life customer basis. Group and Individual Long-term Care: The company’s long-term care insurance was sold on a guaranteed renewable basis which allows the company to re-price in-force policies, subject to regulatory approval. Other Other insurance products include group pension, individual life and corporate-owned life insurance, reinsurance pools and management operations, and other miscellaneous product lines. Regulations Insurance Regulation and Oversight: The company’s U.S. insurance subsidiaries are subject to regulation and oversight by insurance regulatory authorities in the jurisdictions in which they do business and by the U.S. Department of Labor (DOL) on a national basis, primarily for the protection of policyholders. The company’s U.K. insurance subsidiary, Unum Limited, is subject to dual regulation by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Insurance Holding Company Regulation: The company and its U.S. insurance subsidiaries (excluding captive insurers) are subject to regulation under the insurance holding company laws in the states in which they are domiciled (or deemed to be commercially domiciled), which include Maine, Massachusetts, Tennessee, South Carolina, New York, and California. History Unum Group was founded in 1848.
unum group (UNM:New York)
1 Fountain Square
Chattanooga, TN 37402
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