Kickbacks disguised Tennessee insurer fined in S.D. kickback probe By Jonathan Sidener San Diego Union Tribune June 25, 2008 Tennessee insurance company Unum Group will pay a $5.5 million fine as a result of a federal investigation of kickbacks paid to a San Diego insurance broker, according to the U.S. Attorney's Office. The San Diego company, which prosecutors have not named, received millions of dollars in kickbacks disguised as items such as requests for proposals, communications and enrollment fees. Those fees were passed along to policyholders. A Unum spokesman said the San Diego company is Universal Life Resources, which apparently closed shop in 2006 after agreeing to pay $2 million in restitution in New York state over similar charges. Large companies such as Intel, Eastman Kodak and Callaway Golf hired Universal Life to provide unbiased advice on employee benefits insurance plans. In 2004, New York prosecutors alleged that Universal Life received undisclosed contingent commissions, which are akin to kickbacks, for steering business to certain insurers. A New York lawsuit alleged that Universal Life collected about $11.5 million of its $25 million in revenue in 2003 from these secret commissions. A statement from prosecutors said they negotiated a settlement with Unum in part because the company had a “relative lack of culpability.” A prosecutor declined to comment on the scope or focus of the “ongoing” investigation. Federal investigators apparently launched their investigation after the New York state lawsuit. Several publicly owned insurance companies have since reported receiving subpoenas from San Diego investigators. Unum spokesman Jim Sabourin described the investigation as an industry issue that has involved other insurers and other states. As part of the settlement, Unum agreed to overhaul its internal controls and standards, Sabourin said. The Associated Press contributed to this report. |
SAN DIEGO EDUCATION REPORT |
mauralarkins.com |
Sales Manager - California Teachers Association Company: Standard Insurance Co Description If you want to make a positive difference and stand out from the crowd, you'll fit in at The Standard (www.standard.com). Through our retirement plans and insurance products and services, we help provide people with the financial security and confidence to pursue their dreams... With operations in most states, The Standard's three thousand-plus employees enjoy a vast array of career options... In this exciting role(located either in California or Portland, Oregon) you will drive all sales activities aimed at a newly acquired, very large, and strategically critical customer, the California Teacher's Association (CTA). You will lead a team consisting of 6 Sales Representatives to drive sales growth in premium and lives, and long-term retention, focusing on life and disability products for CTA's individual members. You will partner closely with a dedicated marketing team to plan and execute marketing campaigns aimed at new enrollments, increases in existing business, and retention. You will also manage close working partnerships with CTA state and local district leadership. This strategically visible leadership position will play a key role within a new business unit formed to support this new customer... Primary responsibilities for this position: - Provide leadership to, and manage the performance of, a dispersed, California-based team of Sales Representatives. Be responsible for meeting CTA growth and retention metrics, with a focus on collaboration and partnership with CTA leaders and Chapter and District representatives. Your team will consist of Voluntary Sales Representatives focusing on chapter-level enrollments and retention, and a District-paid Sales Representative focusing on increasing our block of business with districts who provide benefits directly to their employees. - Serve as the principle sales liaison for CTA's leaders at the state and district level to establish and grow your team's partnership, value, and trust. Act as a conduit for information to and from CTA ensuring clear expectations, understanding of sales opportunities, forecasting and other metrics. - Work with business unit leadership, marketing and other operational units within The Standard to build a cohesive sales function in support of CTA. - Partner with a dedicated marketing team to plan and execute a broad range of initiatives and programs aimed at increasing enrollments and existing business, while retaining currently enrolled members. Ensure successful execution of enrollment strategies in the field... - Five-plus years of direct premium generating and customer facing experience within the either the supplemental insurance or group benefits markets, ideally including life and disability product experience. Sales experience which includes managing large government, association or other non-profit cases a significant plus... Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, Inc., StanCorp Equities, Inc. and StanCorp Investment Advisers, Inc., marketed as The Standard, are Equal Opportunity employers. |
Joint Powers Authority (JPA) Executive Committee |
Home Why This Website SDCOE CVESD Castle Park Elem Law Enforcement CTA CVE Stutz Artiano Shinoff Silence is Golden Schools and Violence Office Admin Hearings Larkins OAH Hearing |
Insurance Brokers |