Sarah Mirando  |  September 28, 2010

Category: Legal News

Top Class Actions’s website and social media posts use affiliate links. If you make a purchase using such links, we may receive a commission, but it will not result in any additional charges to you. Please review our Affiliate Link Disclosure for more information.

 
Follow us on Twitter and Facebook for the latest Class Action Settlement News!
 
The Hartford Settles Structured Settlement Class Action
By Mike Holter
  

The HartfordA judge has granted final approval of a $72.5 million settlement involving The Hartford Financial Services Group. The settlement puts an end to nearly five years of litigation alleging the insurance company underpaid personal injury and workers’ compensation claims by devising a “scheme” to keep the money within the insurance group. More than 21,600 people are covered by the class action lawsuit settlement.

 

According to the class action lawsuit, The Hartford developed a “fraudulent scheme” in which the company paid personal injury and workers’ compensation claims with a structured settlement, but instead of paying the full settlement amount, The Hartford deducted up to 15% in undisclosed fees after claiming the money was needed, in part, to cover the costs of purchasing an annuity.

 

In case you don’t know, structured settlements are paid over time and are funded by annuity purchases for the present settlement value. The class action lawsuit alleged The Hartford had its own property and casualty companies buy the annuities in the settlements and then deducted the cost of purchasing the annuity — up to 15% — from the money paid out in the settlements. The lawsuit also accused The Hartford of providing kickbacks to the property-casualty units by giving them a portion of the 15% fees.

 

The Hartford class action lawsuit estimates over 21,600 people who had been injured and were owed structured settlement payments from The Hartford on personal injury and workers’ comp claims dating back to 1997 were shortchanged. Attorneys for the plaintiffs estimate each of these individuals will receive, on average, $3,300 from the class action settlement, which is expected to go out to class members in about 30 to 45 days.

 

The Hartford has settled at least two other class action lawsuits this year over its alleged mishandling of auto insurance claims and 401(k) plans.

 

We tell you about cash you can claim EVERY WEEK! Sign up for our free newsletter.

 

Updated September 28th, 2010

 

All class action and lawsuit news updates are listed in the Lawsuit News section of Top Class Actions

LEGAL INFORMATION IS NOT LEGAL ADVICE
Top Class Actions Legal Statement
©2008 – 2010 Top Class Actions® LLC
Various Trademarks held by their respective owners.

8 thoughts onThe Hartford Settles Structured Settlement Class Action

  1. Jose Espino says:

    Hartford refused to pay me while I was out on workers compensation. According to them I don’t get pay for being out on workers compensation. Please advise.

  2. O Butler says:

    I was in a drunk driver accident. I’ve exhausted my short-term disability but have not entered into long term because of the mind games my reprehensive is playing. She first stated she received all physician statements she requested but one. I then called the one physician which stated they had left several messages for her to call but has not. I too had left three messages which she has ignored but when another reprehensive put me on hold to get clarification she still wouldn’t speak to me. She told the rep that she’s still waiting on statements from all physicians which is totally different from what she told me. I’ve been nice, patient and has done everything required. I have bills to pay and now I’m told I’ll be terminated because of long term which U still have FMLA. These people will have you in your grave one way or another. I’m now waiting on a surgery date with the spine surgeon as we speak. I’ve tried going back to work with restrictions, but they denied it three times. I do not want to be on anyone’s disability and rather be working and if my work ethics and record doesn’t speak for itself then I give up!

  3. Angelica Romero says:

    I got 1k from Hartford around 2017 for a neck injury. A car hit me and they had Hartford insurance.

    I’m I eligible?

  4. Kim Smith says:

    Dealing with this company now on a worker’s comp claim. Will I be able to be included in this class action lawsuit.

  5. j deruedas says:

    want to be added to the law suite for samsung

  6. j deruedas says:

    have no comment

  7. Anonymous says:

    We moved to MN in 2009 and wondered if our settlement regarding Beasley v Hartfor, Claim # 2226 was misplace?
    Thanks

  8. Anonymous says:

    We moved to MN in 2009 and wondered if our Claim regarding Beasley v. Hartford Claim #2226 was misplaced?

Leave a Reply

Your email address will not be published. By submitting your comment and contact information, you agree to receive marketing emails from Top Class Actions regarding this and/or similar lawsuits or settlements, and/or to be contacted by an attorney or law firm to discuss the details of your potential case at no charge to you if you qualify. Required fields are marked *

Please note: Top Class Actions is not a settlement administrator or law firm. Top Class Actions is a legal news source that reports on class action lawsuits, class action settlements, drug injury lawsuits and product liability lawsuits. Top Class Actions does not process claims and we cannot advise you on the status of any class action settlement claim. You must contact the settlement administrator or your attorney for any updates regarding your claim status, claim form or questions about when payments are expected to be mailed out.