CHATTANOOGA, Tenn.–UnumProvident Corp. hopes to reach a single settlement with regulators across the country regarding investigations into the insurer’s claims-handling practices.

In addition to investigations by 44 state insurance regulators, the U.S. Department of Labor and New York’s attorney general are probing the Chattanooga, Tenn.-based disability insurer’s claims practices, according to UnumProvident. The company has also been the subject of hundreds of lawsuits nationwide alleging the improper denial of claims and termination of coverage (BI, April 23, 2003).

In a Nov. 4 conference call with stock analysts, CEO Tom Watjen said that trying to include all the regulators in a single agreement adds complexity to ongoing discussions. But that strategy could best serve the insurer, Mr. Watjen said.

“I believe we are making progress toward a resolution which meets the needs of all our constituents; however, we do not have a final resolution at this time,” he said.