Texas Department of Insurance Logo
333 Guadalupe St. P.O. Box 149104 Austin, TX 78714-9104

PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY

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Table of Contents
General Info | Contact Info | Types of Insurance | Use of Credit | Attorney for Service | Ratings | Financial Info | Premiums | Complaint Ratios | Company History | Company Officers

General Information:

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Type of Entity:  Authorized Company (AUTH)
Status of TX License:  Active
Company Status:  Normal Operations
License Number:  68655
License Type:  Life (LI)
NAIC Number:  68195
TDI Company Number:  68655
FEIN:  620331200
Home City/State:  TN
Origin:  Foreign
Date Incorporated/Organized:  01/01/1910
Date Licensed/Eligible/Registered in Texas:  08/06/1915
Date Cancelled/Ineligible/Inactive:  

Contact Information:

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Mailing Address:  1 Fountain Square
 Chattanooga TN 37402-1330
Office Number:  (423)294-1011
Toll Free Number:  
Fax Number:  (423)294-4260


Types of Insurance Licensed to Write:

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Use of Credit:

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To determine if a company uses credit information for private passenger automobile or homeowners insurance.


Attorney for Service:

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Rating By Financial Organization:

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The following organizations rate insurance companies on their financial strength and stability. Some of these companies charge for their services.



Financial Information:

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As of: Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013
Total Assets   $8,417,239,993     $8,452,041,066     $8,347,582,371  
Total Liabilities   $7,764,280,465     $7,809,284,060     $7,647,874,056  
Asset to Liability Ratio   1.0     1.0     1.0  
Capital   $43,501,205     $43,501,205     $43,501,205  
Net Surplus   $609,458,323     $599,255,800     $656,207,111  
Total Life Ins   $37,471,191,000     $36,621,295,000     $33,755,874,000  


Premiums:

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As of: Dec. 31, 2011 Dec. 31, 2012 Dec. 31, 2013
Life and Annuities   $22,923,465     $25,151,376     $25,433,571  
Accident and Health   $61,125,681     $62,838,276     $57,341,645  
Property and Casualty   N/A     N/A     N/A  
Total Texas Premium   $84,049,146     $87,989,652     $82,775,216  
National Premium   $1,210,283,303     $1,229,161,463     $1,157,619,781  


Complaint Information:

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When considering the company's complaint index and ratio, be sure to review the company history information displayed below for recent acquisitions, mergers, or other events that may affect the figures displayed for this company.


  Dec 31, 2012 Dec 31, 2013 Apr 18, 2014
Confirmed Complaints:      
Life and Annuity 0 0 0
Accident and Health 0 0 0
Homeowner 0 0 0
Automobile 0 0 0
Workers' Compensation 0 0 0
Complaint Ratio/Index Ratio Index Ratio Index  
Life and Annuities .0000 .0000 .0000 .0000 N/A
Accident and Health .0000 .0000 .0000 .0000 N/A
Homeowner N/A N/A N/A N/A N/A
Automobile N/A N/A N/A N/A N/A
Workers' Compensation N/A N/A N/A N/A N/A

Confirmed Complaints: the number of confirmed complaints closed against the company for the line of insurance and year indicated. A complaint is confirmed if the department receives information indicating that a company committed any violation of an applicable state insurance law or regulation, a federal requirement the department has authority to enforce or the term or condition of an insurance policy or certificate. A complaint is also confirmed if the complaint and company's response, considered together, suggest that the company was in error or that the complainant had a valid reason for the complaint.

Complaint Ratios: the ratio, expressed as a percentage, is the number of closed confirmed complaints divided by the number of policies the company had in force for the line of insurance and year indicated.

Complaint Index: indicates how a company's ratio of the number of complaints to the number of policyholders compares to the average for all insurers. The index is calculated by dividing the company's percentage of complaints for a specific line of insurance by the company's percentage of the policies in force for the same line of insurance. The average index is 1.00. A number less than 1 indicates fewer complaints than average; a number greater than 1 indicates more complaints than average. For the most recent completed year, a given insurer's index may change over time, as policy count data is received by TDI. This will affect each insurer's percentage of the total.

Complaints against an insurance company are not part of the complaint tally above if the insurance company served only as a Third Party Administrator (TPA), a company hired simply to administer the paperwork of a health plan. Instead, they are included in the complaint record of the insurance company or HMO that hired the TPA. If a bonafide self-insured benefit plan hired the TPA, no complaint numbers are recorded as a part of the company/TPA's profile. Neither are profiles available for self-insured plans, as such plans are regulated under federal law.


Company History:

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Date Event
04-26-2013 PENALTY OF $11,000 FOR FAILURE TO FILE REVISED FORMS WITH AND SEEK THE APPROVAL OF THE COMMISSIONER PRIOR TO GENERAL PUBLIC USE IN MARYLAND.
03-10-2005 PENALTY OF $70,250 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN NORTH CAROLINA.
11-10-2004 PENALTY OF $50,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN MINNESOTA.
03-19-2003 PENALTY OF $250,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN GEORGIA.
01-18-2002 PENALTY OF $40,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ILLINOIS.
11-19-2001 WITHDREW AUTHORIZATION TO OPERATE AS A THIRD PARTY ADMINISTRATOR.
02-22-2001 PENALTY OF $5,000 PAID BY COMPANY, UNUM LIFE INSURANCE COMPANY OF AMERICA, PROVIDENT LIFE AND CASUALTY INSURANCE COMPANY AND PAUL REVERE LIFE INSURANCE COMPANY FOR REFUSAL TO PROVIDE ACCESS AND PRODUCE DOCUMENTS REQUESTED BY COMMISSIONER'S EXAMINER IN GEORGIA.
07-19-2000 PENALTY OF $80,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN NORTH CAROLINA.
05-24-2000 PENALTY OF $19,500 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.
06-05-1998 EFFECTIVE 05/01/1998 GROUP ANNUITY POLICIES REINSURED BY CONTINENTAL ASSURANCE COMPANY (20500) CHICAGO, ILLINOIS
03-27-1998 EFFECTIVE 04/01/1998 MEDICAL INDEMNITY, DENTAL AND VISION INSURANCE REINSURED BY CONNECTICUT GENERAL LIFE INSURANCE COMPANY (19650) BLOOMFIELD, CONNECTICUT
03-13-1998 PENALTY OF $9,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN KENTUCKY.
12-12-1997 EFFECTIVE 01/01/1997 PARTIALLY REINSURED BY LIFE INVESTORS INSURANCE COMPANY OF AMERICA (48160) CEDAR RAPIDS, IOWA
06-14-1996 PENALTY OF $35,000 FOR ISSUING NON-STANDARD HEALTH BENEFIT PLANS WHICH DID NOT CONFORM TO THE STARDARD PLANS IN NEW JERSEY.
05-28-1993 EFFECTIVE 07/01/1993 PARTIALLY REINSURED PROVIDENT NATIONAL ASSURANCE COMPANY (68725) CHATTANOOGA, TENNESSEE
02-25-1993 PENALTY OF $10,000 FOR VIOLATIONS FOUND DURING A MARKET CONDUCT EXAMINATION IN ARIZONA.
09-06-1991 EFFECTIVE 07/01/1991 PARTIALLY REINSURED PROVIDENT MUTUAL LIFE INSURANCE COMPANY OF PHILADELPHIA (68700) PHILADELPHIA, PENNSYLVANIA
05-07-1990 AUTHORIZED TO OPERATE AS A THIRD PARTY ADMINISTRATOR
08-06-1915 GRANDFATHERED FOR CAPITAL AND SURPLUS REQUIREMENTS


Company Officers:

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Title Name
President KEVIN P MCCARTHY
Secretary SUSAN N ROTH
Treasurer KEVIN A MCMAHON