As part of its ongoing effort to help customers recover from last week’s tragic events, The Hartford Financial Services Group is temporarily extending premium insurance payment periods to customers unable to pay because of the catastrophe. This applies to customers with existing property-casualty, life and disability insurance coverages.
“We want to assure our customers that they will continue to be insured while they deal with the tragic aftermath of the attacks,” stated Ramani Ayer, chairman and CEO of The Hartford.
The Hartford is initiating this temporary payment extension in response to hardships caused by the tragedies. The Hartford will continue to send regularly scheduled premium notices, but customers will continue to receive coverage even if they are unable to process or mail their premium payments due to the catastrophe.
The temporary payment extension will apply to property-casualty customers until further notice. Affected customers who have individual life insurance and employers with group benefits policies will receive an additional 30-day grace period on September bills.
Additionally, to help speed the recovery process for families and businesses, The Hartford has a catastrophe team of insurance adjusters in place ready to move into New York when possible to assess property-casualty claims and to help initiate life and disability claims. Other company claim adjusters throughout the country are ready to assist those affected by the tragedies.
The Hartford is one of the nation’s largest insurance and financial services companies, with 2000 revenues of $14.7 billion. As of June 30, 2001, The Hartford had assets of $177.9 billion and shareholders’ equity of $8.5 billion. The company provides investment products, life insurance and group benefits; automobile and homeowners products; commercial property and casualty insurance; and reinsurance.
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