May 27, 2018 6:54 AM ET

Insurance

Company Overview of Colonial Life & Accident Insurance Company

Company Overview

Colonial Life & Accident Insurance Company provides insurance products and services. It offers personal insurance products in the areas of accident, cancer, critical illness, dental, disability, hospital confinement indemnity, and life insurance. The company serves small, mid-size, and large businesses; and the public sector in the United States. It offers products through a network of brokers. The company was founded in 1939 and is based in Columbia, South Carolina. Colonial Life & Accident Insurance Company operates as a subsidiary of Unum Group.

1200 Colonial Life Boulevard West

Columbia, SC 29202-1365

United States

Founded in 1939

Phone:

803-798-7000

Fax:

803-731-2618

Key Executives for Colonial Life & Accident Insurance Company

Chairman, President & CEO
Age: 54
CFO & Senior VP
Senior Vice President of Customer Service and Information Technology
Senior Vice President of Legal and Compliance
District General Agent
Compensation as of Fiscal Year 2017.

Colonial Life & Accident Insurance Company Key Developments

Colonial Life Launches Dental and Vision Coverage

Colonial Life announced the introduction of Colonial Life Dental and Vision. Dental and vision insurance essential parts of any employee benefit package round out Colonial Life's competitive product portfolio. Dental is the No. 2 worksite product behind term life. The dental and vision plans offer employers and their employees Colonial Life's strong industry reputation, simplified administration with consolidated billing, and personalized, professional service. The Colonial Life dental plan is easy for individuals and families to use with access to a national network of more than 323,000 providers. Colonial Life's dental and benefits use the expertise and experience of its sister company, Starmount Life Insurance Company. The Colonial Life dental and vision plans will be available in 40 states on March 26, 2018.

Colonial Life Promotes Trish Proctor as Vice President, Field Development

Trish Proctor has been promoted to vice president, Field Development at Colonial Life. Proctor is responsible for driving Colonial Life’s distribution development strategy, including recruiting, sales training and leadership development, with the ultimate goal of growing the size and effectiveness of the sales organization. Trish brings extensive expertise in leadership development, a wealth of Colonial Life business knowledge and strong field relationships to her new role. She’s served for the past seven years as a key member of the company’s field development team, overseeing sales management and leadership development, sales business planning and sales training efforts. Her 30-plus years of experience with the company has included leadership roles in customer service, operations and human resources.

West Virginia Court Denied Unum's Motion to Dismiss Complaints on Provident Life & Accident Insurance Co. and Colonial Life & Accident Insurance Co

A West Virginia court denied Unum Group's motion to dismiss complaints that two of the company's subsidiaries failed to report unclaimed insurance policy proceeds meant to go to the state. In December, the company filed a motion to dismiss the complaints, as West Virginian lawmakers had passed a law earlier in 2016 that outlined insurers' duties to unclaimed benefits from West Virginia-issued life insurance policies, annuity contracts and retained asset accounts. The company disclosed the court's denial of its motion in a quarterly regulatory filing made July 28. The case is now proceeding through the discovery phase. Previously, the lawsuits were reinstated after having been dismissed in December 2013, when a circuit judged found that West Virginia law does not require insurance companies to search death files from the Social Security Administration or turn over life insurance benefits to the government until a claim has been submitted. The lawsuits were reinstated after an appellate court found that the West Virginia Uniform Unclaimed Property Act requires insurers to make reasonable efforts to determine whether those insured under its policies are still living. The Unum group units involved in the lawsuits are Provident Life & Accident Insurance Co. and Colonial Life & Accident Insurance Co.

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Recent Private Companies Transactions

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April 25, 2018
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