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Hartford Pays $1.3 Million Due To Schemes

The Hartford Investor Relations Group is required to pay $1.3 million to settle an argument of their involvement in a planned scheme. The fraud inflated insurance rates unacceptably as well as the reinsurance rates nationally. This is the first case of an anti trust settlement to involve the reinsurance industry. Attorney General Richard Blumenthal alleged that the Hartford Group has handed his office “with critical cooperation and information necessary to stop a culture of collusion in the multi – billion dollar reinsurance industry.”

-Source: Insurance Journal

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