December 12, 2012
The Department of Financial Regulation announced today that The Hartford Financial Services Group has agreed to pay more than $81,000 in restitution to Vermont customers whose auto insurance claims were not evaluated properly.
An investigation by the department determined that The Hartford had inaccurately calculated the value of total vehicle losses for 77 claims between January 2009 and September 2011. In response, The Hartford has agreed to implement new policies and procedures as well as mandatory training for all employees who handle Vermont total loss claims.
DFR Commissioner Steve Kimbell was pleased with the corrective actions The Hartford has promised to take.
“It is always gratifying when a company acknowledges erroneous practices and strives to make improvements,” Kimbell said.
“It is this department’s number one priority to protect Vermont consumers,” he said, “so I applaud The Hartford for its prompt resolution of this matter.”
The department will conduct a follow-up examination in about a year.
Source: Department of Finance and Management
Last Updated at: December 12, 2012 08:27:42