Reliance Standard’s History
Reliance Standard was founded in 1817 as an association of volunteer fire departments and over the years expanded into auto insurance and other lines of insurance.
Reliance Group Holdings
The years of 1968 to 1998 are known in Reliance history as the “Saul Steinberg Era.” In the early 1970s, a holding company was formed knows as Reliance Group Holdings as part of a corporate strategy to expand into financial services and other insurance-related products. During the years it has owned the Days Inn hotel chain and has a real estate division. That is not surprising since most insurance carriers are in the real estate business which is where they really make their money.
However, the company began falling apart between 1998 and 2001, and Reliance being placed into liquidation by the Commonwealth Court of Pennsylvania. Reliance was the largest insurance company placed into liquidation.
Reliance Group Holdings owned Reliance Standard Life Insurance Company, among other companies, which sells disability income and group term life insurance. It is now a member of the Tokio Marine Group, a Japanese corporation founded in 1879.
Reliance’s company slogan was, “Quality is our policy” and they, have in the past, ran sexist ads like,
“Brains. Our girls (referring to their claims services representatives) are a lot more than just a pretty face. They’re all well-educated.”
I have another take on the company slogan. It should be:
“Worthless is our policy and Heartless is our claims management philosophy.”
Sad, but that is my take based on my years of handling Reliance Standard cases.
Denial Tactics Used by Reliance Standard
Reliance Standard manages claims through Matrix Absence Management, Inc. which is where the claim denial and termination strategy and implementation take place.
Make no mistake about it, Reliance Standard plays games with initial applications and makes endless and multiple requests for medical, financial, and vocational information before it figures out a way to deny benefits. This delay and denial strategy drains your bank accounts as you try to stay financially afloat.
Reliance Standard uses “liar for hire” doctors who give Reliance Standard the ammunition it needs to justify a claim’s denial or termination. Reliance Standard rarely tells a denied policyholder, like you, the real reasons the claim was denied. Worse yet, Reliance Standard fails to fully explain what you need to submit to successfully win an appeal.
That’s why it is crucial that you be represented at both the initial application and appeal stages of a Reliance Standard claim by an experienced lawyer, like Nancy Cavey, who battles Reliance Standard daily.