NU Online News Service, Aug. 12, 1:57 p.m. EDT
Officials said under Florida's excess profits law more than 30 workers' compensation insurers calculate they owe refunds to businesses, with Hartford Financial Services Group refunding $48.2 million.
An announcement from Florida Insurance Commissioner Kevin McCarty today said as part of the refund process his agency, the Office of Insurance Regulation and Hartford have entered into a consent agreement for the company to issue refunds or credits totaling $48.2 million to Florida businesses for excess profits it earned on its comp policies for accident years 2004, 2005 and 2006.
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