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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.
Updated September 28th, 2010
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8 thoughts onThe Hartford Settles Structured Settlement Class Action
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.
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!
I got 1k from Hartford around 2017 for a neck injury. A car hit me and they had Hartford insurance.
I’m I eligible?
Dealing with this company now on a worker’s comp claim. Will I be able to be included in this class action lawsuit.
want to be added to the law suite for samsung
have no comment
We moved to MN in 2009 and wondered if our settlement regarding Beasley v Hartfor, Claim # 2226 was misplace?
Thanks
We moved to MN in 2009 and wondered if our Claim regarding Beasley v. Hartford Claim #2226 was misplaced?