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Hartford Financial Pays $115M To Settle AG Probes

Law360 (July 23, 2007, 12:00 AM EDT) -- Three years after investigations into Hartford Financial Services Group Inc.'s alleged market timing and compensation agreements with brokers began, the insurance provider on Monday agreed to pay $115 million to settle claims with the attorneys general of three states.

The settlements were reached with the attorneys general of Connecticut, Illinois and New York. Hartford will pay a penalty of $20 million to New York and $3 million each to Connecticut and Illinois.

In addition, Hartford will pay $84 million to settle the New York attorney general's...
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