THE HARTFORD settles class-action for $72 MILLION

NATIONAL - Recently The Hartford Financial Services Group agreed to a $72.5 million class-action settlement.  This settlement will end a dispute over structured settlements in personal injury and workers compensation cases. This settlement will cover 21,600 people nationwide.

The lawsuit alleged that The Hartford's property and casualty companies purchased annuities from its life insurance subsidiary and then deducted as much as fifteen (15) percent in undisclosed costs from the promised value of the annuity.

$72 MILLION DOLLAR Insurance Settlement with The Hartford approved by Federal Judge

A federal judge has given preliminary approval to a settlement under which The Hartford Financial Services Group Inc. will pay $72.5 million to more than 21,000 people nationwide who alleged the insurer engaged in fraud in settling their injury claims. The U.S. District Court judge approved the agreement last week to resolve the class action lawsuit.

The settlement, expected to receive final approval in September, came after extensive mediation and five years of litigation. The trial was scheduled to start in September.

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