The Hartford to Restructure for Growth, Target Small to Medium Accounts

By | April 2, 2010

  • April 2, 2010 at 8:32 am
    Jaded Ex-Underwriter says:
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    When insurance companies starting talking about restructuring, they really mean that they’re going to cut rank and file jobs to save those of upper management.

  • April 2, 2010 at 8:38 am
    Mark says:
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    I wish you a Happy Easter.
    Seems you could use some resurection.

  • April 2, 2010 at 8:57 am
    mark says:
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    did they just become a direct writer only, there was no mention of agency business just groups.

  • April 2, 2010 at 9:41 am
    cowboy says:
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    Jaded is unfortunately correct. “restructuring” is the new code word for lay-offs”.

    The top management of ALL companies could care less about the line employees. They will cut you loose just to raise the value of the stock they own by 1 point.

    Sad but true.

  • April 2, 2010 at 9:44 am
    Rusty says:
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    Well, this is Hartford’s latest iteration. I wonder what it will be next year. Unfortunately, Hartford was a great company that lost its way and has had trouble identifying itself in recent years, so it keeps re-inventing itself. And like another commenter indicated, no mention of the agents that built the company.

  • April 2, 2010 at 9:47 am
    No Worries says:
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    Don’t worry, Mark. HIG is still doing agency business.

    PS to all others – it’s a no-brainer that HIG needed restructuring, expecially under a new CEO. No one is worried about their jobs…

  • April 2, 2010 at 9:47 am
    cowboy says:
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    very true Rusty.

    i have been in the business for over 30 years now-pretty typical of what they do and they have no concerns at all with hurting employees or agents.

    in short, they just don’t care.

  • April 2, 2010 at 9:49 am
    "stag"nated says:
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    they cut me off at the knees, guess i should be happy it was’nt any higher

  • April 2, 2010 at 11:39 am
    Joker says:
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    The fact that they haven’t turned a profit in 2 years is a testament to the shape this company is in. I still do not understand why we bail out these crap companies. LET THEM FAIL. If you can’t turn a profit for 8 straight quarters, you clearly should not be in this business.

    Happy Easter Everyone.

  • April 2, 2010 at 1:08 am
    Shaseesh says:
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    i ope they donnut cut our joobs here in india!

  • April 2, 2010 at 1:14 am
    Half Full says:
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    Why arent there any comments on yesterday’s article announcing that the Hartford had returned taxpayers funds? We only jump on the bandwagon of negativity.

  • April 2, 2010 at 1:33 am
    Correction to Joker says:
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    Actually, Hartford Insurance company was not bailed out. They bought a banking operation which enabled them to collect TARP money. Yes, they were playing the system, but they seem to be paying that back. No insurance compananies were bailed out, except for that big one we already know. I don’t mean to be shilling for Hartford. Just want to set the record straight.

  • April 2, 2010 at 1:34 am
    Poor Agent says:
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    HIG should take a page out of Liberty Mutual’s book and go back to the people that REALLY made them become what they were a few years ago – THE AGENTS!

    But I guess that would just make too much sense now, wouldn’ it.

  • April 2, 2010 at 3:21 am
    Alan says:
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    No tsk, tsk at all. The company does mention agents in its announcement. The company is very aware it must continue to work with its agents. There would be no company or customers without agents.

  • April 3, 2010 at 1:21 am
    Hartford Reject says:
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    “After careful consideration, we are writing to inform you that you will not move forward in the selection process for this position.”
    That is part of the thanks but no thanks email rejection I received yesterday.
    Perhaps if I had offer the HR person a BMW or a few million bucks, I would be reconsidered.

    http://www.badfaithinsurance.org/reference/General/1495a.htm

  • April 5, 2010 at 9:06 am
    Tommy Dietz says:
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    I was very disappointed to see no mention of your many loyal agents in your restructuring plan.

    I was so encouraged after hearing Liam McGee at the IIABA meeting in Washington last month that the Hartford was heading in the right direction to become an even better company than it has been for so very long.

    Yes, agents were very disappointed when the AARP program was originally announced. However, they struggled through that.

    How could you announce a major restructure, and leave out your producers completely? Agents should be a major part of that restructure.

  • April 6, 2010 at 7:25 am
    Scott says:
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    I agree….only I started to roll to Zurich Small Business.

    They got themself set straight….very receptive and wants to work with me…not make things harder for me.

    Good bye Hartford.

  • April 6, 2010 at 1:28 am
    Hartford no more says:
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    It’s one of the reasons I shied away from Hartford and went with Erie. Now that is one company that is a true agency partner!

  • April 12, 2010 at 10:58 am
    Jama says:
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    Have they not got a clue that there are HOWMANY companies right behind them begging to pick up their policies? Can’t draw bees with mustard.



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