The Hartford Financial Services Group has agreed to settle a $72.5 million class-action lawsuit that accused it of using questionable business practices when paying personal injury and workers' compensation claims.
The case, which began in 2005, was certified as a class-action lawsuit in 2009 and eventually held more than 21,000 members. The average settlement will provide each of the class members with approximately $3,300, before payment of fees and expenses.
According to a release from Zuckerman Spaeder, LLP, the law firm that represented the plaintiffs, the class-action suit alleged that when The Hartford settled personal injury and workers' compensation claims against its insureds, it often paid some or all of the settlement amount with what is known a structured settlement.
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