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When most people get a cold call on behalf of an insurance company, they hang up. But Charles Glick listened, and it led to a new job. Glick, 51, was a partner at a Chicago-based private equity firm earlier this year when a call from a recruiter led him to UnumProvident Corp., a provider of disability income protection insurance. In September, the company named Glick executive vice president and general counsel. UnumProvident is the product of a 1998 merger between Unum Corp. and Provident Cos. Glick said he was particularly attracted by the chance to head a large legal department-UnumProvident comprises 89 in-house lawyers. A few years ago, Glick was deputy GC at Bank One Corp. There, he oversaw the law department for the bank’s retail banking business and supervised the intellectual property legal team. Glick said that there are some subtle but notable differences between the banking and insurance industries, such as the accounting methods used, that affect compliance. “It’s a different industry with a different vocabulary,” he said, “but a lot of the concepts translate pretty similarly.” UnumProvident is especially attuned to compliance and regulatory issues. Last year, the company paid $15 million to settle an investigation by several state insurance regulators into its claims-handling practices. It also agreed to change the way it deals with claims, to appoint three new independent directors and to permit and pay for enhanced monitoring by state regulators. Under the terms of that settlement, UnumProvident has also set up a new in-house regulatory compliance unit. Glick said he has inherited a leadership role in an insurance industry that is still navigating a period of intense regulatory scrutiny. While the industry has historically been regulated at the state level, he said, there are increasing calls for federal regulation. As with many large companies, Glick said, UnumProvident is also under greater scrutiny over management issues. The company has brought in several new directors and managers, and Glick said more attention is now given to such issues as compensation and institutional shareholders. All of which can translate to more pressures on the legal department.

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