San Francisco, CA (PRWEB) July 16, 2013
Ray Bourhis, of Ray Bourhis Associates warns long term disability claimants affected by the CIGNA Regulatory Settlement Agreement between Insurance Regulators and CIGNA to "Read the Fine Print," and announced today the firm would be offering no-obligation case reviews to CIGNA policyholders whose claims are affected by the settlement.
As the result of the recent settlement between CIGNA and the Insurance Regulators of 5 key states, and in response to the settlement and articles written by firms handling other Areas of Practice, Ray Bourhis warns, "Very few law firms are qualified to handle Long Term Disability issues. We felt it important to provide expert legal counsel to protect consumers who may be at risk.
"The settlement provides that CIGNA will reevaluate thousands of its claims denials and terminations and make unspecified payment offers to those who may have ben wrongfully denied claimants - many of whom are medical doctors. This reevaluation process is called "Remediation."
"But before you accept any such "Remediation" remember these four important words:
"READ THE FINE PRINT.
"The single most important paragraph in this thirty three page settlement agreement states
'Claimants accepting Remediation agree to forgo litigation and release the Companies from
any further liability regarding denial or termination of benefits during the Remediation period.'
"Here's the problem: many of the claimants whose claims may have been wrongly denied or terminated lost a lot more than their contract benefits. They lost their savings, their homes, their families and sometimes their emotional health.
The resultant damages these claimants suffered are often the most important, and largest, part of an allegedly bad faith claim or settlement. But guess what? Under the CIGNA Agreement, in order to accept a "Remediation" offer, a claimant has to give up or waive all claims to settle for or recover these losses. That is why this settlement agreement is a big multi-million dollar gift to CIGNA.
"The very claimants who have the largest claims in the states with the best bad faith laws -- claims that would settle in a month for millions of dollars - will wind up settling for just a fraction of the value of benefits owed.
"Not all claimants have the right or ability to negotiate for extra contractual losses. That depends on your state and on whether your claim is ERISA Preempted or not. But if you lost retirement or other savings, or your home or had to sell assets or property, or if you suffered emotional distress that may be the result of a wrongful claim denial by CIGNA, than to accept this proposal to give up your rights in exchange for a few thousand dollars a month may well be the worst thing you could do."
Ray Bourhis Associates is the leading National firm representing Long Term Disability Policyholders. "Having won the landmark decisions in this field," Bourhis says, "we literally wrote the book on LTD ( http://insulttoinjury.org ).
Bourhis advises, "When it comes to the rights of long term disability claimants, you should listen to us. We know what we are talking about."
Ray Bourhis Associates offers a complimentary download of Download of "What You Need to Know About Long Term Disability Insurance" to newsletter subscribers.