175th Anniversary of Unum

Floor Speech

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Ms. COLLINS. Mr. President, I rise today to commemorate the 175th anniversary of Unum, a great company with deep Maine roots, the country's largest provider of private disability insurance and a leader in advancing the health and financial security of America's workers.

When the company was incorporated in Maine in 1848 as Union Mutual, the very first policy issued covered founder and president Elisha B. Pratt for $5,000. Today, Unum helps protect 45 million people and their families across the United States, the United Kingdom, and Poland. The company pays $8 billion in benefits each year and helps many people in their journey back to work after a long illness or injury. More than 180,000 businesses, including many of America's largest companies, partner with Unum to provide for their employee's well-being.

Unum has a long history in Maine and is today one our State's major employers with a proud tradition of providing access to insurance coverage for workers and their families. The company was a pioneer in the nascent insurance market in the United States and, over the years, has provided businesses and individuals with new ways to help protect their financial futures.

A century ago, Unum was the first to offer life insurance through group coverage, enabling employees to purchase policies at reduced premiums. Nearly 85 years ago, the company introduced the first disability insurance to provide workers with the ability to protect their paychecks in the event of illness or injury.

An article titled ``The Popular Home Company'' in the ``Maine Board of Trade Journal'' from 1905 offered two examples of business practices that illustrate the principles that guide the company: It writes policies in simple, understandable language devoid of technicalities, and it pioneered extending insurance coverage to beneficiaries who had fallen behind in premium payments due to the difficulties that often precede a death in the family. As a result, the article stated, it would be impossible to fully describe ``the hardships it has alleviated in thousands of families throughout the land.''

With around 11,000 employees across the U.S. and in Europe, Unum provides a dynamic and welcoming workplace where people can experience rewarding careers and are encouraged to bring their best ideas to work. I am proud to note the company's recognition by many third parties as a best employer for excellence in health and wellbeing, disability employment, diversity, opportunity for women and new graduates, and technology. For the last 3 years, the company has received the prestigious designation as one of the World's Most Ethical Companies by the Ethisphere.

Unum has a tradition of giving back to the community. The company has been recognized for 5 consecutive years on the Civic 50 list of America's most community-minded companies by the Points of Light Foundation founded by President George H. W. Bush. Unum provided $12 million of charitable giving last year, while its employees donated more than 45,000 hours of volunteer work, for causes as diverse as developing education leaders in Maine, helping enable rehabilitative services for patients in Tennessee, and supporting humanitarian efforts in Poland.

Throughout its 175-year history, Unum has had a tremendous impact in the State of Maine and beyond. I congratulate the company and its employees on reaching this impressive milestone and wish them a long and successful future.

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