The operations of RBC Insurance will not be affected by a finding against Chattanooga, Tenn.-based UnumProvident Corp., says RBC Insurance’s external communications manager, Kerry Gaetano. RBC closed its purchase of Unum’s Canadian operations in the spring of 2004.

Late Thursday, the results of a joint-regulatory inquiry conducted by Maine, Massachusetts and Tennessee into Unum’s handling of disability claims by state regulators in, ended when a settlement was reached.

Unum has agreed to reassess 215,000 past cases and pay US$15 million in fines. The company will also set aside US$85 million to pay benefits in the reassessed cases.

“The situation does not impact the Canadian business,” says Gaetano, adding that even before the RBC take-over, claims in both countries were handled separately.

Several independent advisors were pleased when RBC took over Unum’s Canadian operations citing greater satisfaction among brokers and clients.

Investors in Unum greeted the news of a settlement positively. The company’s stock rose 11.2% Friday on the New York Stock Exchange, though, the stock is still down about 4.5% year-to-date.