Hartford Structured Settlement Class Action
Frequently Asked Questions Related to the Settlement
This page provides short answers to class members’ most frequently asked questions about the Hartford Structured Settlement Class Action. The answers provided here are summary in form. This is not intended to be a complete explanation of your rights. For full and complete information, you should read the Notice.
- Am I being sued?
- Why did I get a notice package in the mail?
- What is the Lawsuit about?
- How do I know if I am part of the Settlement?
- What does the Settlement provide for me and other members of the Class?
- How do I obtain a payment and when?
- How much will my payment be?
- What do I do if I received an Election to Opt Back In Form in my notice package?
- Do I have a lawyer in this case?
- How will Class Counsel be paid?
- Can I exclude myself from the Settlement Class?
- How do I tell the Court that I object to the Settlement?
- May I speak at the Fairness Hearing regarding the Settlement?
- How do I receive a copy of the Settlement Notice?
- What if I have moved since the time of my structured settlement?
- What are the important dates?
- What if I have additional questions?
No, you are not being sued.
2. Why did I get a notice package in the mail?
A proposed Settlement of this Lawsuit has been reached. You or someone related to you entered into a structured settlement with the Defendants (or someone designated you as a beneficiary of a structured settlement with the Defendants). If you received the Notice, and you did not previously exclude yourself from this Lawsuit, you are presumed to be a member of the Settlement Class. The Settlement Class is defined as follows:
“Cost” Subclass: All persons who entered into a settlement with one of the Hartford P&C companies between 1997 and the present in which some or all of the settlement amount was to be paid as a structured settlement funded with an annuity from Hartford Life, AND you received a written representation that made explicit or implicit reference to the “cost” of the settlement or portion of the settlement being structured or the “cost” of an annuity being used to fund the structure.
“Value” Subclass: All persons who entered into a settlement with one of the Hartford P&C companies between 1997 and the present in which some or all of the settlement amount was to be paid as a structured settlement funded with an annuity from Hartford Life, AND you received a written representation that made explicit or implicit reference to the “value” of the settlement or portion of the settlement being structured or the “value of an annuity being used to fund the structure.
You have the right to know about the Settlement and all of the rights and options that you have regarding the proposed Settlement currently pending before the United States District Court for the District of Connecticut (the "Court").
The Lawsuit claims that the Defendants committed fraud and violated federal racketeering laws in connection with the payment of structured settlements that were part of settlements of personal injury and worker’s compensation claims brought against persons or entities insured by Hartford property and casualty insurance companies. The Lawsuit alleges that the Defendants defrauded class members out of the full amount of the structured settlements the Hartford property and casualty insurance companies agreed to pay by providing class members with structured settlements worth 15% less than their promised cost or value, and fraudulently retaining the 15% for themselves.
Defendants include: The Hartford Financial Services Group, Inc., Hartford Life, Inc., Hartford Life Insurance Company, Hartford Accident and Indemnity Company, Hartford Casualty Insurance Company, Hartford Insurance Company of the Midwest and Hartford Fire Insurance Company and their affiliates (collectively, “The Hartford” or “Defendants”).
4. How do I know if I am part of the Settlement?
All members of the Settlement Class are part of the Settlement. You previously had an opportunity to exclude yourself from this Lawsuit. If you did not previously exclude yourself, and you received a Notice, you presumably are a member of the Settlement Class. Therefore, you will be bound by any judgments or orders that are entered in this Lawsuit for all claims that were asserted on your behalf or otherwise included in the release provided for by the Settlement. If the proposed Settlement is finally approved by the Court, and you are a member of the Settlement Class (and did not previously exclude yourself), you will receive a payment. Although you may not opt out of the Settlement, you may object to the Settlement (see Frequently Asked Question 12 for more information).
5. What does the Settlement provide for me and other members of the Class?
The Defendants agreed to pay $72,500,000 ($72.5 million) into a settlement fund to settle this Lawsuit, to be divided among eligible class members after payment of the costs of administering the proposed Settlement and payment of any Court-approved attorneys’ fees and expenses and any compensation payments to the class representatives. The $72.5 million cash payment is in exchange for the settlement and dismissal of all claims in this Lawsuit against the Defendants. The Stipulated Settlement Agreement and Release, available on this website, describes the details of the proposed Settlement, including the release of claims. Also, additional information is available in the Notice.
If the proposed Settlement is finally approved by the Court, and you did not previously exclude yourself from this Lawsuit, you will be eligible for a payment. In addition, judgments and orders entered in this Lawsuit will apply to you and you will not be able to sue any of the Defendants on your own for the claims that were asserted on your behalf or otherwise included in the release provided for by the Settlement.
Important Note: This proposed settlement does not affect your original settlement agreement with a Hartford property and casualty company in any way. It will not change the amount or timing of your payments under your structured settlement. Hartford Life will continue to have the obligation to make any outstanding structured settlement payments under your structured settlement.
6. How do I obtain a payment and when?
If the Court grants final approval of the Settlement and the judgment of the Court becomes final (that is, when the judgment is no longer subject to any appeals or any appeals have been exhausted), a distribution of your Settlement proceeds will be made to you if you are a Settlement Class member. You do not need to take any action at this time in order to receive a payment from the proposed Settlement in the event that the Court grants final approval. You do not need to file a claim form.
Copies of the Notice were mailed out to the last known address of all Settlement Class members based on the Defendants’ records. This is the address that will be used for the purpose of distributing Settlement proceeds. If you have moved since the time of your structured settlement with the Defendants or since the time you received your last payment under your structured settlement, or you believe that Defendants do not have your current address, you can update your address on this website by clicking the link “Update Your Address” on the Home Page, or you can the Claims Administrator toll-free at (800) 951-2135.
7. How much will my payment be?
The Settlement proceeds will be distributed on a “pro rata” basis, which means that your share of the Settlement proceeds will be in proportion to the size of your structured settlement annuity, as measured by the premium paid for the annuity. Those class members whose structured settlements were funded by larger annuities will get more money than those whose settlements were funded by smaller annuities. You are not responsible for calculating the amount you may be entitled to receive under the Settlement. Your settlement amount will be calculated in accordance with a Court-approved Plan of Allocation. The Proposed Plan of Allocation is available at this website.
8. What do I do if I received an Election to Opt Back In Form in my notice package?
If you previously requested to be excluded from the Lawsuit, you have the opportunity to elect to opt back in to the Lawsuit and share in the proposed Settlement. To do so, you must return the Election to Opt Back In Form, which may also be accessed on the link provided on this website (Election to Opt Back In Form), postmarked on or before September 7, 2010, to the Spencer v. The Hartford Financial Services Group, Inc., c/o The Garden City Group, Inc., P.O. Box 9349, Dublin, OH 43017-4249.
Important note: If you did not previously exclude yourself, you do not need to return an Election to Opt Back In Form.
9. Do I have a lawyer in this case?
The Court has appointed the law firms of Silver Golub & Teitell, LLP, Berger & Montague, P.C., Zuckerman Spaeder, LLP and Risk Law Firm as “Class Counsel” for the Settlement Class in this Lawsuit. You will not be charged directly by the Class Counsel. If you want to be represented by your own lawyer, you may hire one at your own expense.
10. How will Class Counsel be paid?
Pursuant to the proposed Settlement, Class Counsel will apply for an award of attorneys’ fees of up to 33% of the Settlement Fund and reimbursement of all expenses incurred during the Lawsuit. At the Fairness Hearing, the Court will consider Class Counsel’s application. In the 5 years that this Lawsuit has been pending, Class Counsel have not received any payment for their services in prosecuting this Lawsuit on behalf of the Settlement Class; nor have Class Counsel been reimbursed for their out-of-pocket expenses.
11. Can I exclude myself from the Settlement Class?
You do not have the right to exclude yourself from the Settlement. You previously had an opportunity to exclude yourself from this Lawsuit, but that time has passed. Thus, it is not possible for any participants or beneficiaries to exclude themselves from the benefits of the Settlement. As a Settlement Class member, you will be bound by any judgments or orders that are entered in the Lawsuit for all claims that were or could have been asserted in the Lawsuit or are otherwise included in the release under the Settlement.
12. How do I tell the Court that I object to the Settlement?
As a Settlement Class Member, you may object to any aspect of the proposed Settlement. Your objection must be in writing. The Notice sets forth all of the information that your written objection must contain. Your objection must be sent by first-class mail and be postmarked no later than September 7, 2010. You must file your objection with the Court and also mail copies to the attorneys, as indicated on Question 16 on page 5 of the Notice. If you do not follow these procedures and submit your objection by the deadline, the Court will not hear your objection.
13. May I speak at the Fairness Hearing regarding the Settlement?
The Court will hold a Fairness Hearing at 10:00 a.m. on September 21, 2010 at the Brien McMahon Federal Building at 915 Lafayette Boulevard in Bridgeport, Connecticut to determine whether to grant final approval to the proposed Settlement. You may attend, but you are not required to do so. Also, if you submit a written objection to the Settlement to the Court and Class Counsel before the Court-approved deadline, you may (but do not have to) attend the Fairness Hearing and present your objections to the Court. To do so, you must send a “Notice of Intent to Appear”, as spelled out in Question 22 on page 6 of the Notice. Your Notice of Intent to Appear must be sent by first-class mail and be postmarked no later than September 7, 2010. You may hire you own lawyer, at your own expense, to represent you at the Fairness Hearing.
14. How do I receive a copy of the Settlement Notice?
Copies of the Notice were mailed out to the last known address of all Settlement class members based on the Defendants’ records. If you would like to review the Notice, please click on the link for the Notice. To request that the Notice be mailed to you, call (800) 951-2135; however, please be advised that requesting a Notice does not guarantee that you are a class member.
15. What if I have moved since the time of my structured settlement?
Copies of the Notice were mailed out to the last known address of all Settlement Class members based on the Defendants’ records. This is the address that will be used for the purpose of distributing Settlement proceeds. If you have moved since the time of your structured settlement with the Defendants or since the time you received your last payment under your structured settlement, or you believe that Defendants do not have your current address, you can update your address on this website by clicking Update Your Address on the Home Page, or you can call the Claims Administrator toll-free at (800) 951-2135.
16. What are the important dates?
- Objection Deadline: September 7, 2010
- Notice of Intent to Appear: September 7, 2010
- Election to Opt Back In: September 7, 2010
- Fairness Hearing: September 21, 2010
17. What if I have additional questions?
If you have additional questions regarding this case, please call the Claims Administrator toll-free at (800) 951-2135. You may also contact Class Counsel listed on the home page of this website.