by John Darer
Selling Your Structured Settlement (SYSS), a Missouri based factoring intermediary, published a "News" item on its website on July 7, 2012 entitled "Would You Take A Structured Settlement from The Hartford?'
"Only slightly deterred by the decision against the company in 2010, Hartford has re-entered the structured settlement annuity market vowing to expand its annuity business by sugarcoating the shady practices that caused them to hastily exit the market for five years during Spencer v. Hartford".
- At the time of the SYSS posting Hartford Life Insurance Company had been 3 months post withdrawal from the structured settlement market place again.
- Hartford did not hastily exit the market for 5 years during Spencer v Hartford. It sold structured settlement annuities throughout the litgation. It exited the market for a little over one year, for reasons other than Spencer v Hartford. The company withdrew in November 2009 and returned in the Spring of 2011. Mark Wahlstrom and John Darer covered the story for Legal Broadcast Network on October 30, 2009 here
- The withdrawal in 2012 was part of an omnibus withdrawal from the individual annuity market place.
- "Hartford Financial Services Group Inc. has announced it will stop selling individual annuities and seek buyers for parts of its life-insurance unit" Bloomberg News March 21, 2012
- The Hartford is the insurer for the American Association for Retired Persons (AARP) Auto and Home insurance porgran.
If SYSS wishes to be a credible source and provide information of value to consumers then SYSS needs to employ writers who do better research. In this instance the reporting is grossly inaccurate and irresponsible. Plenty of information is readily available in the public domain for those seek it.