Cafiero for Insurance Commissioner Press Release:
Nov. 4, 2006

FOR IMMEDIATE RELEASE
Saturday, Nov. 4, 2006
Contact: Cres Vellucci, campaign media relations 916/996-9170

Attention: Political Desk

STATEMENT OF NOV. 4, 2006, CALLING FOR THE REVOCATION OF UNUMPROVIDENT'S LICENSE

SANTA CRUZ -- Below is the statement given by Larry Cafiero, Green Party candidate for Insurance Commissioner, on Nov. 4, 2006, calling for the revocation of the license of UnumProvident to provide insurance in the state of California:

"My hat is off to Insurance Commissioner John Garamendi for taking UnumProvident to task regarding unlawful claims practices, fraudently deceiving claimants on coverage and unlawfully refusing to pay benefits owed to its insureds. In 2005, UnumProvident was fined $8 million for its transgressions.

"UnumProvident, an 'outlaw company' in the eyes of the Insurance Commissioner, was warned that if it continued to violate the laws of the state, their license to do business in the state would be revoked.

"This threat to UnumProvident has fallen on deaf ears within the hierarchy of that insurance conglomerate, and there is clear evidence that UnumProvident continues to violate the law.

"It is incumbent on the current Insurance Commissioner -- now running for Lieutenant Governor -- or the next Insurance Commissioner to follow through on the prior warning to UnumProvident regarding the revocation of its license to sell insurance in California.

"If John Garamendi wants to drop the ball, to use a sports metaphor, on his way to the Lieutenant Governor's office, I'll be glad to pick it up and run with it, finishing the job he should have completed as Insurance Commissioner.

"As the only true consumer advocate in the 2006 Insurance Commissioner's race, I make this promise: Should I be elected on Tuesday, I pledge as the incoming Insurance Commissioner to carry out Garamendi's threat to revoke UnumProvident's license to sell insurance in California. This will top my list as I enter the office to head the Department of Insurance.

"Further, I will ask the incoming Attorney General to investigate any criminal wrongdoing by UnumProvident and, depending on his findings, pursue criminal proceedings if necessary.

"In the event I don't succeed in winning the Insurance Commissioner's post in Tuesday's election, I will continue to work on this issue and would urge all of those affected by UnumProvident's malfeasance -- and those who support good consumer practices -- to join Laura Torrance-Nesbitt, as well as myself and others, in this effort to put this issue on the "front burner" of incoming Insurance Commissioner. "

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