Hartford Hands Over $48M Fla. Workers' Comp Refund

Law360, New York (August 13, 2009, 3:22 PM EDT) -- The Hartford Financial Services Group Inc. will give back to Florida businesses the estimated $48.2 million in excess profits it reaped from workers' compensation programs in the state between 2004 and 2006, bringing the state's excess-profit return close to $100 million so far in 2009.

Florida's Office of Insurance Regulation announced Wednesday that it had entered into a consent decree with Hartford and its Florida subsidiaries to return the $48.2 million in profits deemed excessive under state law.

The decree gives Hartford 60 days to issue...
To view the full article, register now.