Monday, March 16, 2009
The Hartford Faces Nationwide Class Action In Accident Settlement Case
A lawsuit against The Hartford accusing it of fraudulently keeping millions in settlement money that should have gone to accident victims will proceed as a nationwide class action under a ruling this week by a federal judge in Bridgeport.
The 2005 case was filed on behalf of three people in Ohio, Pennsylvania and Oklahoma who had been injured in motor vehicle accidents by people insured by companies that are part of The Hartford Financial Services Group.
The suit involves "structured settlements," which resolve personal injury and workers' compensation claims and often use annuities to provide the payments. The Hartford allegedly gave people written statements of the cost or value of their settlement or annuity without indicating the company would take at least 15 percent of the amount for various fees, taxes, and profit.
The Hartford figured it could benefit by having its Hartford Life division provide the annuities for such settlements. The company started a program in 1997 using selected brokers to ensure the annuities for settlements that would be procured from Hartford Life instead of competitors, the suit says...
Courant: The Hartford Faces Nationwide Class Action In Accident Settlement Case
The 2005 case was filed on behalf of three people in Ohio, Pennsylvania and Oklahoma who had been injured in motor vehicle accidents by people insured by companies that are part of The Hartford Financial Services Group.
The suit involves "structured settlements," which resolve personal injury and workers' compensation claims and often use annuities to provide the payments. The Hartford allegedly gave people written statements of the cost or value of their settlement or annuity without indicating the company would take at least 15 percent of the amount for various fees, taxes, and profit.
The Hartford figured it could benefit by having its Hartford Life division provide the annuities for such settlements. The company started a program in 1997 using selected brokers to ensure the annuities for settlements that would be procured from Hartford Life instead of competitors, the suit says...
Courant: The Hartford Faces Nationwide Class Action In Accident Settlement Case
Permalink posted by markw @ 5:50 AM 
 |
 |  |
  |
