The Hartford was founded in Hartford, Connecticut in 1810 as The Hartford Fire Insurance Company by a group of local businessmen. The first charge of this company was to help insure businesses and individuals from the financial devastation caused by fire. Abraham Lincoln, Dwight D. Eisenhower and Robert E. Lee were all customers of The Hartford.
It has been in business under various entity names since 1810. It has also provided insurance coverage during some of our history’s most damaging natural catastrophes. The Hartford paid out claims in the New York City financial district fire of 1835, the Chicago fire of 1871 and the 1906 San Francisco earthquake. The Hartford also bonded both the Hoover Dam and San Francisco’s Golden Gate Bridge projects.
In 1913 The Hartford added The Hartford Accident and Indemnity Company to its insurance offerings. This entity provides automobile, personal-damage, accident, and other types of insurance. They added a life-insurance arm when they purchased The Columbian National Life Insurance Company in 1959.
In 1970 ITT Corporation acquired The Hartford for $1.4 Billion dollars, the largest takeover in U.S. history at that time. In December 1995 The Hartford once again became a separate entity and trades on the New York Stock Exchange as “HIG”. In 2005 The Hartford became a fortune 100 company. On May 10, 2010 The Hartford will turn 200 years old. Today they service the United States, Japan, the United Kingdom, Canada, Brazil and Ireland. The property and casualty division is the eight largest in the country with regards to written premiums and the fourth largest life insurance division based on assets.
As with most insurance companies, The Hartford has mixed customer reviews. One very satisfied customer commented after an accident “I felt the company was very fair and understanding…I would recommend Hartford to anyone.” Another, less satisfied customer, had this to say, “They dragged their feet in settling my claim over the past 7 months…Good luck to those who need the settlement to move on.” It is a large corporation and it seems that sometimes the claims process runs smoothly and sometimes it doesn’t.
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