Hartford Steam Boiler Inspection and Insurance Company is an insurance company based in Hartford, Connecticut, U.S.A. Founded in 1866, it provides property insurance and risk reduction engineering services for manufacturing facilities. It was purchased by AIG in 2000. In October of 2008, AIG put Hartford Steam Boiler up for sale in response to the economic crisis impacting the financial sector. On April 1, 2009, the company was sold to Munich Re for $742 Million US.
Like all major U.S. insurance corporations, Hartford Insurance is in business to make a profit for its shareholders. In many cases, that means taking advantage of injured car accident victims and making low-ball settlement offers in hopes of frustrating innocent claimants. Accident victims who are frustrated with Hartford's unethical settlement tactics would benefit from consulting with an experienced personal injury attorney.
Bringing an Injury Claim Against Hartford InsuranceWere you in a car accident in which either you, the at-fault driver, or both have been covered by the Hartford Insurance Company? If you have tried all other options and must take legal action, it is crucial to research how other people and organizations have successfully navigated insurance claims and settlements with specific insurance companies so you can achieve a just settlement or court outcome.
This will provide you with strategies designed to help you avoid repeating similar mistakes others have made when legally dealing with insurance companies. Research gives you helpful insight as to which strategies and actions might affect the monetary value of your settlement. It also helps identify critical legal strategies and avenues that have helped win lawsuits against major insurance companies such as Hartford Insurance.
Insurance companies are well-known for delaying the release of settlement funds to individuals because they understand these people generally cannot afford to legally press for the speedy release of these funds. An extremely high percentage of insurance companies engage in this shady practice. It both makes and saves them money. Major insurance companies usually have tens of billions of dollars due to high volume revenue and cash flow. Similar to banks, they invest these funds in order to amplify their profits. Even if they are required to pay a settlement, they will hold the money as long as legally possible in a leveraged effort to increase their own profits through the interest they earn on their investments.
In addition to delaying the disbursement of settlement funds, most insurance companies implement many of the following strategies to cut costs and generate profit:
- Nickel and dime smaller individual clients with various charges with the knowledge they cannot afford to investigate their legal options.
- Present clients with a very small initial settlement offer, as many policy holders do not realize they do not have to accept the insurance company’s first offer.
- Wait until the last possible week to disperse funds, as some negotiations can last well over a year.
More Information Involving Hartford Insurance:
What does the term insurance "bad faith" mean? (View Full Article – Davis Law Group)
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While it is true that not all personal injury cases require the assistance of an attorney, accident victims who do hire a lawyer to represent them after an accident typically receive more money in their pocket, even after deducting attorney's fees. All cases are unique, so it's important that you contact our award-winning legal team sooner rather than later so that we can properly evaluate the case and explain how we can help.
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