HARTFORD, Conn., Aug. 18 /PRNewswire-FirstCall/ -- Many auto insurance
policies are offered on a 6-month basis, and the rates for those policies
can sometimes change when the policy is renewed. To give its customers the
advantage of having one policy rate for an entire year, The Hartford
Financial Services Group, Inc. (NYSE: HIG), one of the nation's leading
providers of investment and insurance products, announced that it is
offering 12-month policy terms on its popular Dimensions personal auto
insurance program, which is available through the company's network of
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New customers in 20 states and the District of Columbia will be
eligible to purchase a year-long policy if they also insure their homes
with a companion Dimensions homeowners policy, or plan to do so within six
months of obtaining their auto insurance. This offering, which includes a
premium discount on both policies, will enable agents and their front line
representatives to reach a greater number of customers with the following
* In contrast to many insurance companies, customers enjoy the same rate
throughout the year -- resulting in less fluctuation for consumers at
the six-month mark.
* Easier payments for policyholders to budget.
* A decrease in billing and related paperwork for agents.
* The convenience of insuring all vehicles under one policy with one
"We're always looking for ways to help our agents reach more customers
with the best products and services possible," said Mike Concannon, senior
vice president of personal lines for The Hartford. "Very few of our
competitors offer a 12-month policy term, so this feature will be something
that can benefit our customers and give our agents one more reason to quote
For a limited time, the 12-month policy terms are being offered to all
customers in the District of Columbia and the following 20 of 40 states
where The Hartford's original Dimensions auto plan is still available:
Alabama, Colorado, Indiana, Idaho, Kentucky, Kansas, Louisiana, Maryland,
Maine, Minnesota, Montana, Nevada, New Mexico, New York, North Dakota,
Oklahoma, Pennsylvania, Tennessee, Virginia and Vermont.
In other states which have, or will be getting access to, a new version
of the The Hartford's Dimensions program -- known as 'Dimensions with Auto
Packages' -- customers may also be eligible for 12-month policies.
Eligibility will depend on which one of the program's four available auto
insurance packages they purchase.
About The Hartford's Dimensions Program:
Introduced in 2003, The Hartford's Dimensions auto program is a
sophisticated underwriting plan that evaluates and connects a broad set of
risk factors, enabling agents to generate a customized price, or rate, for
each policyholder regardless of the risks and rates of other members in the
same household. The plan was recently enhanced in 2006, and is now being
rolled out on a state-by-state basis with four distinct package options,
each providing a unique bundle of features and benefits to best match an
individual's insurance needs.
With this personalized approach, agents are better equipped to keep
their customers satisfied at every stage of life without drastically
changing the price they pay for auto insurance year after year.
Underwriting is also much easier for agents and their service
representatives, who can take advantage of The Hartford's easy-to-use
electronic quoting, submission and issuing systems. Purchased with a
homeowners policy, The Hartford's Dimensions program provides a full range
of protection that can help agents meet their customers' total insurance
needs. For more information, agents can contact a personal insurance sales
representative from The Hartford or visit the company's Electronic Business
Center (EBC) at http://ebc.thehartford.com. Customers who are interested in
purchasing Dimensions insurance coverage should contact an independent
agent of The Hartford in their area.
The Hartford, a Fortune 100 company, is one of the nation's largest
financial services and insurance companies, with 2005 revenues of $27.1
billion. The Hartford is a leading provider of investment products, life
insurance and group benefits; automobile and homeowners products; and
business property and casualty insurance. International operations are
located in Japan, Brazil and the United Kingdom. The Hartford's Internet
address is http://www.thehartford.com.
Some of the statements in this release should be considered
forward-looking statements as defined in the Private Securities Litigation
Reform Act of 1995. These include statements about our future results of
operations. We caution investors that these forward-looking statements are
not guarantees of future performance, and actual results may differ
materially. Investors should consider the important risks and uncertainties
that may cause actual results to differ. These important risks and
uncertainties include, without limitation, those discussed in our Quarterly
Reports on Form 10-Q, our 2005 Annual Report on Form 10-K and the other
filings we make with the Securities and Exchange Commission. We assume no
obligation to update this release, which speaks as of the date issued.
Joe Loparco Debora Raymond
SOURCE The Hartford Financial Services Group, Inc.