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The Hartford Appoints McGee President of The Hartford
Date : 01/07/2010 @ 4:15PM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&cb=1262899113&article=41016313&symbol=NY^HIG
The Hartford Financial Services Group, Inc. (NYSE: HIG) today announced that its Board of Directors has appointed Liam E. McGee President of the company, in addition to his roles as Chairman and Chief Executive Officer
“In his first three months on the job, we have been impressed with Liam’s leadership of The Hartford,” said Michael G. Morris, Presiding Director of The Hartford’s Board of Directors. “The additional title of President is in recognition of his work to date and our expectations of the future he and his team are building for The Hartford. As the company enters its third century, we are confident that The Hartford is on the right track towards profitable growth and delivering value to our shareholders.”
About The Hartford
Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com
HIG-F Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued
The Hartford To Announce Fourth Quarter Earnings And Full Year 2009 Results On February 8
Date : 01/04/2010 @ 3:27PM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&cb=1262637162&article=40955801&symbol=NY^HIG
The Hartford Financial Services Group, Inc. (NYSE: HIG) will release its fourth quarter and full year 2009 financial results on Monday, February 8, 2010, following the close of the market
The company’s conference call to discuss its fourth quarter and full year 2009 financial results will take place on Tuesday, February 9, 2010, at 9 a.m. EST and will be simultaneously webcast at http://ir.thehartford.com
About The Hartford Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com
HIG-F Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued
The Hartford Backs Bold New Plan To Help Women Recovering From Breast Cancer In All 50 States
Date : 01/04/2010 @ 1:01PM
Source : Business Wire
Stock : The Hartford Financial Services Group (HIG)
http://ih.advfn.com/p.php?pid=nmona&article=40954075&symbol=HIG
While most nonprofit organizations are doing their best to simply survive the bad economy, one organization is launching a bold new campaign to provide two-and-a-half day retreats in all 50 states for women recovering from breast cancer
Casting for Recovery, which currently hosts retreats in 27 states, will use funds provided by The Hartford Financial Services Group to add retreats in all of the 23 states it does not already serve, beginning with Florida, South Carolina, and New Mexico, where demand is acute
Lori Simon, Casting for Recovery’s executive director, says the organization has served more than 4,000 women since it was founded in 1996, but with more than 500 women being diagnosed with breast cancer every day, scores of women must be turned away from its retreats
“We need to do everything we can to close the gap for women who need our support,” Simon said. “Time and time again women tell us our retreats are the first good thing to happen to them since they were diagnosed. After enduring the devastating effects of breast cancer surgery and chemotherapy, women need a way forward. They, and their loved ones, need hope and support. That’s where we come in and why “To Fish is to Hope” is our motto.” The Hartford has been the organization’s lead sponsor since 2006. Connie Weaver, the company’s senior vice president of marketing and communications, says of the relationship: “You need only hear one woman’s story of how her life was changed by attending a retreat to know why we decided to become the organization’s leading national supporter three years ago. It is a privilege to be a part of a process that enables a woman to move forward after breast cancer surgery and to continue the process of renewal.” Casting for Recovery was started by a breast surgeon who loved fly fishing and who recognized both the physical and emotional benefits the sport and its natural setting can provide to women in recovery. The retreats combine fly-fishing instruction and catch-and-release fishing with counseling and education to promote the healing process. The two-and-a-half day retreats are provided at no cost to participants
Simon says her organization’s goal is to offer retreats to women in all 50 states by 2015. To reach its goal, Casting for Recovery, which currently has more than 1,000 volunteers, will have to recruit a small army of new volunteers on the ground. But Simon is not worried about growing the ranks of new volunteers because, as she put it, “Breast cancer touches just about every family in America. So when the call goes out for volunteers, people from all walks of life step up.” The Hartford, which is celebrating its bicentennial in 2010, is also the founding sponsor of U.S. Paralympics, a nonprofit organization dedicated to recruiting and training elite athletes with physical disabilities. Weaver says all three organizations share what she calls an abilities philosophy, which encourages people with illnesses and physical disabilities to use their abilities to overcome life’s challenges
About Casting for Recovery Casting for Recovery retreat programs are offered at no cost to the participants. Numerous medical and psychosocial professionals and institutions consider Casting for Recovery one of the leading programs providing support for women with breast cancer. Retreats are also held in Canada and the United Kingdom through sister organizations, Casting for Recovery-Canada and Casting for Recovery-UK/Ireland
Casting for Recovery is supported by generous donations from individuals, foundations, and corporations. Its national sponsors are The Hartford (www.thehartford.com), one of the largest insurance and investment companies in the nation, which will celebrate its 200th anniversary in 2010; Under Armour® (www.underarmour.com), a leading developer, marketer, and distributor of branded performance apparel, footwear, and accessories, whose “Power In Pink” program is an effort to help educate women about the important link between physical activity and winning the battle against breast cancer; and Brookdale Senior Living-West Division, whose mission of enriching the lives of those they serve with compassion, respect, excellence, and integrity is the source of strong support of Casting for Recovery
Casting for Recovery is a 501(c) (3) non-profit organization. For more information about the Casting for Recovery program, please call: 802-362-9181 or visit www.castingforrecovery.org
About The Hartford Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com. You can follow The Hartford on Twitter at www.twitter.com/thehartford or become a fan on Facebook at www.facebook.com/thehartford
The Hartford, Hartford Stage & The Mark Twain House & Museum Kick Off Year-Long Partnership with the Return of Hal Holbrook a...
Date : 11/30/2009 @ 1:03PM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&article=40572356&symbol=HIG
Academy Award nominee Hal Holbrook, whose Mark Twain Tonight! has defined the image and style of the great American author for thousands of theatergoers for over five decades, will perform his much-loved portrait of the great author on Saturday, January 23, 2010 at 7:30 p.m. at the University of Hartford’s Lincoln Theater.
This unforgettable, one-night-only event is a collaboration of Hartford Stage, The Mark Twain House & Museum and The Hartford Financial Services Group, Inc., and launches The Mark Twain House & Museum’s 2010 Centennial Celebration. The year 2010 marks the centennial of Mark Twain’s death, the 175th anniversary of his birth, and the 125th anniversary of the publication of Adventures of Huckleberry Finn in the U.S.
The Hartford marks a significant milestone of its own in 2010, celebrating the Bicentennial of its incorporation and two centuries of service to the communities in which its employees live and work. In honor of this achievement, The Hartford has made a historic underwriting commitment to both The Mark Twain House & Museum’s Centennial events and Hartford Stage’s Twain programs. The Hartford will be providing year-long financial support, including being the Presenting Sponsor of Hartford Stage’s upcoming world premiere theatrical adaptation of The Adventures of Tom Sawyer and its Twain-related programs and education initiatives.
The performance of Mark Twain Tonight! marks the kick-off of this joint endeavor, as well as a return by the Emmy- and Tony Award-winning Hal Holbrook to the city Mark Twain loved so well. In 1956, Holbrook performed Mark Twain Tonight! at the Mark Twain Memorial’s annual meeting, just three months after he had won nationwide acclaim with the piece on “The Ed Sullivan Show.” Holbrook’s most recent Hartford appearance was in the record-breaking production of Our Town at Hartford Stage in 2007, where he played the central role of the Stage Manager.
The Mark Twain House & Museum’s Executive Director Jeffrey L. Nichols states, “Thanks to The Hartford, we have a full year planned with author lectures, special performances, fun-filled family activities, a new book club in collaboration with the Harriet Beecher Stowe Center, the National Endowment for the Arts Big Read of The Adventures of Tom Sawyer with libraries across the state, insightful exhibitions, and, of course, the many events surrounding Hartford Stage’s Tom Sawyer. We look forward to spending a year reflecting on the life, work and home of Mark Twain.”
Hartford Stage Artistic Director Michael Wilson says of the partnership, “All of us at Hartford Stage are thrilled to be partnering with The Hartford and The Mark Twain House & Museum on these exciting celebratory events. We look forward to welcoming Hal Holbrook back to Hartford to revisit one of the great roles of his spectacular career, and are most grateful for The Hartford’s sponsorship of our upcoming world premiere of Twain’s classic The Adventures of Tom Sawyer. Laura Eason’s vibrant new adaptation will introduce another generation to the magic of Twain’s genius.”
“Mark Twain, one of our nation’s greatest authors, was inspired to write some of his best works while living in Hartford,” says Connie Weaver, Senior Vice President of Marketing and Communications at The Hartford. “His renowned works provide insight into the American mindset of the late nineteenth century, and continue to have strong meaning for Americans today. Through this historic partnership between The Mark Twain House & Museum and Hartford Stage, Twain’s work will again come to life and commemorate the rich history of our region. We are pleased to work on such a historic effort and look forward to celebrating our bicentennial year with two of Hartford’s cultural gems.”
MARK TWAIN TONIGHT! TICKET INFORMATION: Tickets for Mark Twain Tonight! go on sale to the general public on December 7 at $55 and $70, with a $125 premier seating ticket that includes a dessert reception with Hal Holbrook after the performance. Tickets may be purchased by calling the Hartford Stage box office at 860-527-5151 or online at hartfordstage.org. The Lincoln Theater is located at 200 Bloomfield Avenue in West Hartford.
In April, Hartford Stage will present the world premiere of Laura Eason’s adaptation of Twain’s beloved classic, The Adventures of Tom Sawyer. Hartford Stage Associate Artistic Director Jeremy B. Cohen will direct. Tom Sawyer chronicles the adventures of Twain’s mischievous young hero in a small town on the Mississippi River and showcases Twain’s brilliant sense of humor and keen insights into human nature.
Event underwriters for Mark Twain Tonight! are Sally and Ted Carrier; Dr. and Mrs. J. David Haddox; Stephen and Amy Sills; David and Jan Klein; Tom and Margah Lips; and Reid & Riege, P.C. The Event Committee includes Connie K. Weaver, Honorary Chair; Karen and John Wheat, Co-chairs; Gregory Butler; Dr. J. David Haddox; and Duby McDowell.
The Mark Twain House & Museum has restored the author’s Hartford, Connecticut home, where the author and his family lived from 1874 to 1891. Twain wrote his most important works there, including Adventures of Huckleberry Finn, The Adventures of Tom Sawyer, and A Connecticut Yankee in King Arthur’s Court. In addition to providing tours of Twain’s restored home, a National Historic Landmark, the institution offers activities and educational programs that illuminate Twain’s literary legacy and provide information about his life and times. The Mark Twain House and Museum at 351 Farmington Ave. are open Monday through Saturday, 9:30 a.m.-5:30 p.m., and Sunday, noon-5:30 p.m. For more information, call 860-247-0998 or visit www.MarkTwainHouse.org.
Since its founding in 1963, Hartford Stage (Michael Wilson, Artistic Director, and Michael Stotts, Managing Director) has produced over 320 new productions, among them more than 60 world or American premieres. Recent work includes a landmark production of Horton Foote’s three-part The Orphans’ Home Cycle, Harper Lee's To Kill a Mockingbird, the world premiere of Daniel Beaty's Resurrection, several plays by Tennessee Williams during an unprecedented ten-year marathon of his work, including The Milk Train Doesn't Stop Here Anymore, Summer and Smoke, A Lovely Sunday for Creve Coeur, and the two-evening 8 By Tenn, which included three premieres. Other new work includes the premiere of Eve Ensler’s Necessary Targets; the commission and premiere of Edward Albee’s Peter and Jerry; the East Coast premiere of Lanford Wilson’s Book of Days; and Matthew Barber's Enchanted April which transferred to Broadway. The theatre has earned numerous distinguished honors, including a Tony Award for Outstanding Regional Theatre, the Margo Jones Award, OBIE awards, and a New York Critics Circle award. In 2005 Hartford Stage was awarded The Hartford Courant's Tapestry Award recognizing its outstanding work in diversity, and in 2008 it was awarded the Bank of America Neighborhood Builder's Award recognizing its excellent educational work in the Greater Hartford community.
Celebrating nearly 200 years, The Hartford (NYSE: HIG) is an insurance-based financial services company that serves households, businesses and employees by helping to protect their assets and income from risks, and by managing wealth and retirement needs. A Fortune 500 company, The Hartford is recognized widely for its service expertise and as one of the world’s most ethical companies. More information on the company and its financial performance is available at www.thehartford.com.
Programs of The Mark Twain House & Museum and Hartford Stage are made possible by the support of the Connecticut Commission on Culture & Tourism and the Greater Hartford Arts Council.
Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=6109824<=en
The Hartford Names Christopher Magee Managing Director Of International Financial Products Division
Date : 11/19/2009 @ 10:45AM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
http://ih.advfn.com/p.php?pid=nmona&cb=1258651825&article=40436180&symbol=NY^HIG
Quarterly Report (10-Q) ...
...for the quarterly period ended September 30, 2009
Date : 11/03/2009 @ 4:36PM
Source : Edgar (US Regulatory)
Stock : (HIG)
http://ih.advfn.com/p.php?pid=nmona&cb=1258651254&article=40191739&symbol=NY^HIG
As of October 27, 2009, there were outstanding 383,008,419 shares of Common Stock, $0.01 par value per share, of the registrant.
Just jumpped into this one. Since I cut a check to HIG for my insurance, they must not be that bad. I like the chart with tons of upside potential IMO.
HIG Hartford Financial target raised to $25 at Deutsche (20.56 )
Deutsche raises their HIG tgt to $25 from $20 saying they have updated their valuation analysis from their June 19 report in which they performed a deep dive on the company's investment portfolio. The firm says the stock price is factoring in the S&P 500 index at the 700 level rather than today's 1,000 level. Thus the stock should rise to $25 should the S&P at least maintain a level around 1,000. Frm says there could be even more significant upside to the extent the equity market increases further and the discount rate declines.
HIG has not closed above $20 since the crash...
Big move coming imo...
Hoping an Upgrade is in the works, it's been a while since any analyst has commented, I think it's only a matter of time...
http://www.briefing.com/GeneralContent/Active/Investor/TickerSearch/QuickSearch.aspx
July 29, 2009 HIG 2nd Q-2009 earnings after market closed.
Question: Can anyone explain to me why HIG took over $3B from the government in June, 2009 when HIG has about $32B in cash (less debt), source Yahoo finance?
Thanks
Not as good as when i was buying it under 4
still got good thoughts on HIG?
The Hartford is showing some nice recovery the last few days. will the trend up continue?
SunLife just ended talks with the Hartford for any buyout plans...for now. The deal is dead in the water...for now.
Man, I wish I dumped into this thing when it bottomed. Such a solid play this month. I'm kicking myself right now!
State Regulators Allowed Life Insurers To Change Accounting
Date : 03/10/2009 @ 2:55PM
Source : Dow Jones News
Stock : Hartford Financial Services Group Inc. (HIG)
Quote : 7.13 0.58 (8.85%) @ 8:00PM
State Regulators Allowed Life Insurers To Change Accounting
By Lavonne Kuykendall
Of DOW JONES NEWSWIRES
CHICAGO -(Dow Jones)- Life insurers turned to their state regulators in 2008 to benefit from relaxed statutory accounting standards that boosted their statutory income, capital surplus, or both, according to regulatory data.
A handful of life insurers, including Hartford Financial Services Group (HIG), Lincoln National Corp. (LNC) and Allstate Corp.'s (ALL) life insurance unit have already discussed their requests to use so-called permitted accounting practices that allow them to reduce their reserves against potential losses, or allow them to expand what they consider as capital in their state financial filings.
The changes have the effect of making insurers' capital position look stronger on paper, by relaxing what life insurers call overly conservative rules set by state insurance regulators.
Other insurers have followed suit and made the same request, and data released Monday by the National Association of Insurance Commissioners indicate that regulators looked favorably on the requests.
Hartford, Lincoln National and Allstate were among the insurers that boosted their capital surplus through a change in their deferred tax asset accounting that allows the insurers to realize deferred tax assets over three years rather than the usual one year, and raise the asset-recognition limit to 15% from 10% of statutory capital and surplus.
NAIC said that accounting change was also permitted for Aviva Group (AV.LN), American International Group (AIG), MetLife Inc. (MET), Conseco Inc. (CNO), Principal Financial Group (PFG), Nationwide Financial Group and Aegon (AEG).
Some insurers, such as Lincoln National, Hartford, Protective Life (PL), and Pacific Life received permission to relax one or more standards used to set reserves.
-By Lavonne Kuykendall, Dow Jones Newswires; (312) 750 4141; lavonne.kuykendall@dowjones.com
My little MONSTA
HIG is an easy near term double from here IMO
No danger Hand is here soon to be the MOD!
Weee Chappy the short left as Mod. He got Hand whacked another 96%+ for the good team!
Finally! We are out of the danger zone. Anything above $6.00 is good at this time.
Nurses On Call: The Hartford Updates Disability Claims Services, Helping Workers Get Back To Work Faster, Easier
Date : 03/10/2009 @ 1:25PM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
Quote : 4.88 0.78 (19.02%) @ 1:15PM
Nurses On Call: The Hartford Updates Disability Claims Services, Helping Workers Get Back To Work Faster, Easier
The Hartford Financial Services Group, Inc. (NYSE: HIG), the leading U.S. seller of group disability insurance, 1 is expanding its claims services to ensure experienced medical experts help ill and injured workers at each step of a short-term disability (STD) claim until they return to an active, productive life.
A key aspect of this industry-leading claims service is having nurses as the first point of contact for the disabled worker. The Hartford has employed nurses to manage STD claims for some large employers for the past four years. Now, the company is making this the standard service for new clients with 50 or more workers and will be moving existing clients to this claims experience over time.
“We have seen great results with nurses as our first point of contact for sick or hurt employees because they resolve complex issues at the earliest stages of an illness or injury, as well as offer compassion and comfort at a difficult time,” said Glenn Shapiro, vice president of claims for The Hartford’s Group Benefits Division. “With The Hartford’s experts providing timely medical insight, workers are getting on the road to recovery faster, and employers are seeing a quicker return to productivity.”
That boost in worker productivity translates into STD durations that are on average four days fewer than the industry average, according to the 2008 JHA Disability Fact Book. Employees gain by returning to their full salary, and employers reap improved cost savings, he noted.
“We strongly believe that people want to return to active, productive lives,” Shapiro said. “Our expanded disability claims service is part of The Hartford's commitment to help people of all abilities, through products, services, research, and philanthropy.”
In addition to nurses handling intake of claims, The Hartford’s expanded claims management system has triggers that automatically prompt clinical reviews at key times during a worker’s recovery, as well as a specialized team of rehabilitation specialists who facilitate employees’ safe return to the workplace after a short-term disability.
When The Hartford’s nurses begin working with a disabled employee, they use their seasoned judgment along with established medical guidelines to establish key milestones for case management. In addition, nurses speak directly with the employee’s physician(s) to gather additional medical information to ensure the nurses are making the most accurate decisions.
“We understand that being out of work due to an illness or injury can be a difficult period for many people. Employees, particularly those experiencing disability for the first time, value our nurses’ expertise and compassionate approach,” Shapiro said. “Our nurses, who have an average of 20 years nursing experience, can tackle tough medical situations and find solutions to benefit both the employee and employer.”
Medical and behavioral health case managers become involved depending on the claim’s duration, the employee’s medical situation, and the nurse referrals. In addition, the system automatically flags claims that would benefit from additional involvement by The Hartford’s medical experts.
“The Hartford’s claims management system represents an investment in people, as well as processes and technology,” Shapiro said. “Our system is sensitive enough to prompt clinical intervention, ensuring consistent, professional care throughout a worker’s recovery.”
The Hartford’s team of return-to-work coordinators review all STD claims for employees with return-to-work potential. These rehabilitation specialists determine the right time and the right way to ease employees back into a productive, active life. These experts work with doctors, employees and employers toward creative solutions that will enable a worker to return to productive work, including workplace modifications or helping employees find new jobs that better match their abilities. The coordinators also support workers through the transition.
At the center of The Hartford’s claims service is its Ability Philosophy – a focus on abilities, not perceived limitations.
“The Hartford’s Ability Philosophy helps individuals return to productivity after a disability and enables businesses to retain experienced employees,” Shapiro said. “Our investment in empathetic experts at every step of the STD claims process delivers on our promises to employers and employees – to remove the burden of benefits administration and help them manage their health and their wealth.”
The Hartford’s Ability Philosophy is demonstrated through its corporate citizenship and philanthropy activities, including its support of U.S. Paralympics, the division of the U.S. Olympic Committee dedicated to recruiting and training elite athletes with physical disabilities; the Wounded Warrior Project, a non-profit that honors and empowers disabled U.S. veterans; and Casting for Recovery, a national non-profit organization that helps women recover physically and emotionally from breast cancer through fly fishing.
In addition, The Hartford’s focus on abilities is evident in how it serves breast and prostrate cancer survivors. In 2005, The Hartford became the first insurer in the nation to offer life insurance at standard rates to women age 40 and older who had been treated for early-stage breast cancer. In 2006, The Hartford became the first insurer to offer life insurance to men 60 and older who had been successfully treated for moderately aggressive prostate cancer that was confined to the prostate and that had been surgically removed. Last year, The Hartford became the first U.S. insurer to offer life insurance at standard rates to men who have been successfully treated with radiation for moderate levels of prostate cancer.
About The Hartford
The Hartford is one of the nation's largest financial services companies and a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford's Internet address is www.thehartford.com.
HIG-L
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
1. LIMRA, September, 2008
The Hartford Introduces Data Privacy Coverage For Technology Companies
Date : 03/10/2009 @ 10:22AM
Source : Business Wire
Stock : The Hartford Financial Services Group, Inc. (HIG)
Quote : 4.77 0.67 (16.34%) @ 12:59PM
The Hartford Introduces Data Privacy Coverage For Technology Companies
While large-scale data security breaches are those that make news, a breach of any size can be costly for software developers, hardware firms, and other technology companies that have non-public personal information in their control. Data breach laws in many states require notification and credit monitoring services for those affected, the costs for which are incurred by the company responsible for the breach. With the average per-record cost of a data breach at $202, according to a 2008 Ponemon Institute study, the cost of a breach involving just 500 records could exceed $100,000.
To address this exposure for technology firms, The Hartford Financial Services Group, Inc., (NYSE: HIG) one of the nation’s largest financial services companies, has added First Party Data Privacy Expense coverage, along with Cyber Extortion Expense coverage, to its FailSafe® suite of technology liability coverages. These new coverages are offered as an endorsement to the FailSafe GIGA® and FailSafe TERA® policies.
“Many technology companies are at risk for improper dissemination of non-public personal information or violation of data privacy laws. This endorsement is designed to address direct costs that would not be covered by third party technology professional liability coverage,” said David J. Selembo, assistant vice president of professional liability, underwriting & operations for The Hartford’s Technology Practice Group, which provides insurance coverage tailored to the risks of technology firms.
The Hartford’s Data Privacy Expense coverage pays for actual expenses incurred as a result of a policyholder’s negligent acts, errors or omissions that result in the improper dissemination of non-public personal information, or a breach or violation of data privacy laws. Specific components of the coverage may include:
1. Notification expenses incurred to comply with notification laws.
2. Crisis management expenses incurred for fees and costs associated with hiring a crisis management firm to perform services that minimize potential harm and maintain or restore confidence in the policyholder.
3. Data privacy regulatory and credit monitoring expenses incurred in connection with a statutory mandate requiring credit monitoring for third parties in compliance with data privacy laws, legal expenses in defense of a data privacy regulation proceeding, and certain fines or penalties, where insurable, in connection with a data privacy regulation proceeding.
4. Cyber investigation expenses incurred to have a third party investigate the policyholder’s computer system to determine the source of a data privacy breach.
The Hartford’s Cyber Extortion Expense coverage addresses expenses incurred by a policyholder in the event of an extortion threat to cause an actual interruption, suspension, or failure of the company’s computer system, including the failure to prevent unauthorized access or unauthorized use of the computer system.
To learn more about The Hartford’s FailSafe suite of customized solutions for the technology industry, agents and brokers should contact david.selembo@thehartford.com, their local Hartford sales representative, or a Technology Practice Group underwriter.
About The Hartford
The Hartford is one of the nation's largest financial services companies and a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property and casualty insurance. International operations are located in Japan, the United Kingdom, Canada, Brazil and Ireland. The Hartford's Internet address is www.thehartford.com.
HIG-PC
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our Quarterly Reports on Form 10-Q, our 2008 Annual Report on Form 10-K and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
The description herein is a summary only, is intended for informational purposes only and should not be relied upon. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage is provided by The Hartford companies and may not be available in all states.
CORRECT(2/27): Allianz CEO: Good Upside For Hartford Invest
Date : 03/06/2009 @ 7:20AM
Source : Dow Jones News
Stock : Hartford Financial Services Group Inc. (HIG)
Quote : 3.88 -0.25 (-6.05%) @ 10:58AM
CORRECT(2/27): Allianz CEO: Good Upside For Hartford Invest
("Allianz CEO Sees "Good Upside" For Hartford Investment," published 1111 GMT on Feb. 27, misstated whose investment it was in the second paragraph. The correct version follows.)
MUNICH -(Dow Jones)- Allianz SE (AZ) Chief Executive Michael Diekmann Friday defended the insurer's $2.5 billion investment in a 23.7% stake in U.S. insurance and financial-services company Hartford Financial Services Group Inc. (HIG) last year.
"We see good upside for our investment," Diekmann told investors.
He said that "the timing of the investment doesn't look good," but noted that the entire U.S. insurance market "is getting repositioned," that the market capitalization lost by large U.S. players "leaves a lot of opportunities for those who survived the shakeout," and that Hartford "is one of the very strong operators."
Hartford's stock price has fallen some 84% since April but has more than tripled since its all-time low of $4.16 Nov. 21.
Hartford said Feb. 5 it intends to cut its quarterly dividend by 84% to $0.05 as it swung to a fourth-quarter loss on investment losses.
Hartford reported a fourth-quarter net loss of $806 million, or $2.71 a share, compared with year-earlier net profit of $595 million, or $1.88 a share.
The latest results included a $597 million write-down of goodwill in the corporate and annuity segments.
Company Web site: www.allianz.com
-By Ulrike Dauer, Dow Jones Newswires; +49 69 29725 500; ulrike.dauer@dowjones.com
Do Insurers Need a Bailout?
http://money.cnn.com/2009/03/05/markets/thebuzz/index.htm
›Other than AIG, many life insurers have been left to fend for themselves. Could that soon change?
By Paul R. La Monica
March 5, 2009
NEW YORK (CNNMoney.com) -- If you're an insurance company hoping for a government handout, unless your name is AIG, you've been out of luck so far.
Could that soon change? Investors are growing increasingly worried about the health of the industry, particularly life insurers that have been hit hard by concerns about capital requirements and growing losses.
Insurance stocks don't get as much attention on Wall Street as the zombie banks, but they have done almost as poorly. While the KBW Bank index has plunged about 55% so far this year, the KBW Insurance Index isn't far behind, down 44%.
Last week, ratings agency Standard & Poor's downgraded the credit and financial strength ratings of 10 insurers, including MetLife, Prudential and Conseco.
So far though, banks, and not insurers, have been the major beneficiaries of bailout funding.
And with the Treasury Department disclosing last week that federal regulators have started to conduct so-called stress tests on 19 banks with more than $100 billion in assets, it seems likely that many of those banks will in fact be required to raise more funds.
But it looks like one insurance company will need to undergo a stress test. According to research from non-profit newsroom ProPublica, which released a list Thursday morning showing the 19 banks that had more than $100 billion in assets at the end of last year, MetLife ranks seventh.
It makes sense that MetLife would qualify since it does have a regulated banking unit. The company set it up in 2001.
The Treasury Department was not immediately available for comment about the list
A spokesman for MetLife also would not comment about the stress test list, but pointed out that MetLife has not received any money from the government's Troubled Asset Relief Program, or TARP.
That makes MetLife the only one of the 19 banks on the list that has yet to receive any government funding. The remaining banks on the list are the usual cast of characters of big, troubled banks.
MetLife is also the only insurance company that it is large enough to qualify for the stress test. However, given the industry's woes and recent stock price declines, it's possible that other insurers might need or want funding.
Several other insurers, including Protective Life (PL), Hartford Financial Services (HIG) and Lincoln National (LNC), were approved as bank holding companies earlier this year.
"Most of the insurers should be able to get by without funding. I think they have done the bank registrations more as a precaution than anything else," said Doug Ober, chairman and CEO of Adams Express (ADX), a closed-end fund that invests mainly in U.S. stocks and owns Prudential.. "But there could be some that have serious difficulties that may face short-term credit needs."
Still, it's important to point out that despite the problems facing insurers, customers should not need to worry about their policies.
The individual insurance units are regulated at the state level and there are many protections similar to those that insure bank deposits at the federal level. Even policyholders at AIG have been largely unaffected by the parent company's financial collapse.
And for the most part, the insurance companies may not be in nearly as bad shape as investors and rating agencies believe them to be. So it is probably unfair to compare them to banks.
"A lot of insurers' troubles come from their investment portfolios. That's a concern but it's not like the banks where they actually have toxic assets they can't get rid of," said Dan North, chief U.S. economist with Euler Hermes, a leading credit insurer.
North added that companies like S&P, Moody's and Fitch may now be rushing to downgrade some companies because many of them were blamed for not being diligent enough to spot problems before the credit markets blew up.
"The rating agencies are on tenterhooks now since some or them are thought to be part of the big problem. So they are probably being aggressive in downgrading," North said.
Ober agreed that the issue with most insurers is more one of market confidence. He does not expect other big insurers to follow the same route as AIG.
"I don't think most insurers dabbled in the collateralized debt obligations and credit default swaps that got AIG into such big trouble. My general feeing is that insurers should not end up in some death spiral," Ober said.
But try telling that to a skeptical market.
"The pace at which insurance stocks are moving down limits their options every day," said Randy Binner, an analyst with FBR Capital Markets.
So even if insurers are not in as dire shape as banks, as long as the stocks keep plunging, that will make it more difficult for them to raise needed capital.
"Will insurers be able to ride this out? I think so. I hope so. But it would be nice to have more capital," said Steven Schwartz, an insurance analyst with Raymond James.‹
Hig divi's...hm they nearly payed 2 Bucks a year/share
hopo they will do in the future..if so and you buy stock now at this levels..thats a VERY great investment...
Historical Dividends Issued
Declared Ex-Date Record Payable Amount Type
02/10/09 02/26/09 03/02/09 04/01/09 0.05 U.S. Currency
10/15/08 11/26/08 12/01/08 01/02/09 0.32 U.S. Currency
Total of Dividends Paid in 2009: 0.3700
07/17/08 08/28/08 09/02/08 10/01/08 0.53 U.S. Currency
05/21/08 05/29/08 06/02/08 07/01/08 0.53 U.S. Currency
02/21/08 02/28/08 03/03/08 04/01/08 0.53 U.S. Currency
10/18/07 11/29/07 12/03/07 01/02/08 0.53 U.S. Currency
Total of Dividends Paid in 2008: 2.1200
07/19/07 08/30/07 09/04/07 10/01/07 0.50 U.S. Currency
05/17/07 05/30/07 06/01/07 07/02/07 0.50 U.S. Currency
02/22/07 02/27/07 03/01/07 04/02/07 0.50 U.S. Currency
10/19/06 11/29/06 12/01/06 01/02/07 0.50 U.S. Currency
Total of Dividends Paid in 2007: 2.0000
07/20/06 08/30/06 09/01/06 10/02/06 0.40 U.S. Currency
05/18/06 05/30/06 06/01/06 07/03/06 0.40 U.S. Currency
02/16/06 02/27/06 03/01/06 04/03/06 0.40 U.S. Currency
10/20/05 11/29/05 12/01/05 01/03/06 0.30 U.S. Currency
Total of Dividends Paid in 2006: 1.5000
07/21/05 08/30/05 09/01/05 10/03/05 0.29 U.S. Currency
05/19/05 05/27/05 06/01/05 07/01/05 0.29 U.S. Currency
02/17/05 02/25/05 03/01/05 04/01/05 0.29 U.S. Currency
10/21/04 11/29/04 12/01/04 01/03/05 0.29 U.S. Currency
Total of Dividends Paid in 2005: 1.1600
07/22/04 08/30/04 09/01/04 10/01/04 0.28 U.S. Currency
05/20/04 05/27/04 06/01/04 07/01/04 0.28 U.S. Currency
02/19/04 02/26/04 03/01/04 04/01/04 0.28 U.S. Currency
10/16/03 11/26/03 12/01/03 01/02/04 0.28 U.S. Currency
Total of Dividends Paid in 2004: 1.1200
07/17/03 08/28/03 09/02/03 10/01/03 0.27 U.S. Currency
04/17/03 05/29/03 06/02/03 07/01/03 0.27 U.S. Currency
02/20/03 02/27/03 03/03/03 04/01/03 0.27 U.S. Currency
10/24/02 11/27/02 12/02/02 01/02/03 0.27 U.S. Currency
Total of Dividends Paid in 2003: 1.0800
07/18/02 08/29/02 09/03/02 10/01/02 0.26 U.S. Currency
04/18/02 05/30/02 06/03/02 07/01/02 0.26 U.S. Currency
02/21/02 02/28/02 03/04/02 04/01/02 0.26 U.S. Currency
10/18/01 11/29/01 12/03/01 01/02/02 0.26 U.S. Currency
Total of Dividends Paid in 2002: 1.0400
07/19/01 08/30/01 09/04/01 10/01/01 0.25 U.S. Currency
05/17/01 05/30/01 06/01/01 07/02/01 0.25 U.S. Currency
02/22/01 03/01/01 03/05/01 04/02/01 0.25 U.S. Currency
10/19/00 11/29/00 12/01/00 01/02/01 0.25 U.S. Currency
Total of Dividends Paid in 2001: 1.0000
07/20/00 08/30/00 09/01/00 10/02/00 0.24 U.S. Currency
05/18/00 05/30/00 06/01/00 07/03/00 0.24 U.S. Currency
02/17/00 02/28/00 03/01/00 04/03/00 0.24 U.S. Currency
10/21/99 11/29/99 12/01/99 01/03/00 0.24 U.S. Currency
Total of Dividends Paid in 2000: 0.9600
07/15/99 08/30/99 09/01/99 10/01/99 0.23 U.S. Currency
05/20/99 05/27/99 06/01/99 07/01/99 0.23 U.S. Currency
02/18/99 02/25/99 03/01/99 04/01/99 0.22 U.S. Currency
10/15/98 11/27/98 12/01/98 01/04/99 0.22 U.S. Currency
Total of Dividends Paid in 1999: 0.9000
07/16/98 08/28/98 09/01/98 10/01/98 0.21 Cash dividend on increased shares
05/21/98 05/28/98 06/01/98 07/01/98 0.21 U.S. Currency
05/21/98 07/16/98 06/24/98 07/15/98 2 for 1 Stock Split
02/19/98 02/26/98 03/02/98 04/01/98 0.21 U.S. Currency
10/16/97 11/26/97 12/01/97 01/02/98 0.20 U.S. Currency
Total of Dividends Paid in 1998: 0.8300
07/17/97 08/28/97 09/02/97 10/01/97 0.20 U.S. Currency
05/02/97 05/29/97 06/02/97 07/01/97 0.20 U.S. Currency
02/27/97 03/06/97 03/10/97 04/01/97 0.20 U.S. Currency
10/25/96 11/26/96 11/29/96 01/02/97 0.20 U.S. Currency
Total of Dividends Paid in 1997: 0.8000
07/18/96 08/28/96 08/30/96 10/01/96 0.20 U.S. Currency
05/17/96 05/29/96 05/31/96 07/01/96 0.20 U.S. Currency
02/15/96 02/28/96 03/01/96 04/01/96 0.20 U.S. Currency
Total of Dividends Paid in 1996: 0.6000
(HIG)Hartford Is in Deal Talks With Sun Life $$$$$$$$$$$$$$$
http://online.wsj.com/article/SB123620090644032823.html?mod=yahoo_hs&ru=yahoo
Time to put on your buying shoes! The whole insurance industry has been shaken up only the fittest will survive and restructure.
Hig is one of them great long here. Last time i said this we went up near 500%
Harford Financial Svcs. $ 4.20
HIG -0.94
Short Interest (Shares Short) 21,722,800
Days To Cover (Short Interest Ratio) 0.8
Short Percent of Float 6.72 %
Short Interest - Prior 15,466,100
Short % Increase / Decrease 40.45 %
Short Squeeze Ranking™ -5
% From 52-Wk High ($ 79.88 ) -1801.90 %
% From 52-Wk Low ($ 4.07 ) 3.10 %
% From 200-Day MA ($ 25.15 ) -498.81 %
% From 50-Day MA ($ 11.59 ) -175.95 %
Price % Change (52-Week) -92.60 %
Shares Float 323,240,000
Total Shares Outstanding 325,229,417
% Owned by Insiders 0.24 %
% Owned by Institutions 83.20 %
Market Cap. $ 1,365,963,551
Trading Volume - Today 35,393,365
Trading Volume - Average 26,045,200
Trading Volume - Today vs. Average 135.89 %
Earnings Per Share -8.99
PE Ratio
Record Date 2009-FebB
Sector Financial
Industry Property & Casualty Insurance
Exchange NY
Data Provided Without Warranty
Mission Statement
The mission of ShortSqueeze.com TM is to provide short interest stock market data and services, so our members will be better informed of short selling in the market, track shorts in stocks and gain from the advantages that can be achieved from this valuable market data.
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brrrrrrrrrrrrrr
Yikes. And yikes again.... How low is this thing going? Is it really this bad???
Wow this thing has potential. It looks like it can move fast due to a relatively low float. So cheap right now IMO. Can't believe how high this used to trade!
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Hartford Financial Services Group Inc.
One Hartford Plaza
Hartford, CT 06155
United States
http://www.thehartford.com
DETAILS |
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BUSINESS SUMMARY |
The Hartford Financial Services Group, Inc., through its subsidiaries, provides insurance and financial services in the United States and internationally. It engages in life, and property and casualty insurance businesses. The life insurance business comprises six segments: Retail Products Group (Retail), Retirement Plans, International and Institutional Solutions Group (Institutional), Individual Life, Group Benefits, and International. Retail segment offers variable and fixed market value adjusted annuities, retail mutual funds, 529 college savings plans, and Canadian and offshore investment products. Retirement Plans segment provides products and services to corporations and municipalities. Institutional segment offers institutional liability products and variable private placement life insurance, as well as mutual funds to institutional investors. Individual Life segment sells variable universal, whole, and term life products. Group Benefits segment offers group life, accident, and disability coverage. International segment provides investments, retirement savings, and other insurance and savings products in Japan, Brazil, Ireland, and the United Kingdom. The property and casualty insurance business includes five segments: Personal Lines, Small Commercial, Middle Market, Specialty Commercial, and Other Operations. Personal Lines segment offers automobile, homeowners?, and home-based business coverage. Small Commercial segment provides standard commercial insurance coverage to small commercial businesses. Other Operations segment comprises certain property and casualty insurance operations, including the company?s asbestos and environmental exposures. The company was formerly known as ITT-Hartford Group, Inc. and changed its name in 1972. The Hartford Financial Services Group, Inc. was founded in 1810 and is headquartered in Hartford, Connecticut. |
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