The Hartford Offers More Affordable Car Insurance in Nevada
Company's popular 'Dimensions' product, available through independent insurance agents, is now priced more favorably for customers
HARTFORD, Conn., April 4 -- Following similar announcements in Indiana and Utah, The Hartford Financial Services Group, Inc. , one of the nation's leading providers of investment and insurance products, announced today that it will also offer lower prices to many Nevada drivers under its popular Dimensions personal auto insurance program, which is available through the company's network of independent agents.
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New price adjustments will make the competitively-priced Dimensions plan an even better auto insurance choice for many of Nevada's 1.6 million drivers. These changes will enable agents and their front line representatives to reach a greater number of customers with benefits that include the following:
* Annual savings of approximately $50 or more for many customers with this price reduction. * Additional discounts for most customers when they purchase a companion homeowner's insurance policy. * Changes effective April 4, 2006, for new policies and May 1, 2006, for renewal business.
"The auto insurance market is extremely competitive, and we're constantly reviewing our rates to offer Nevada's drivers the best products and services at the lowest prices possible," said Mike Concannon, a senior vice president at The Hartford. "While Dimensions has already been a huge success, this will certainly give our personal lines agents in Nevada one more reason to quote The Hartford."
This announcement demonstrates The Hartford's commitment to the personal auto insurance market in Nevada and the company's ability to leverage its competitiveness, financial strength and leading edge technology to remain a trusted name with both agents and policyholders.
About The Hartford's Dimensions Program:
One of the most sophisticated underwriting plans in the industry, Dimensions offers a state-of-the-art, multi-dimensional approach to pricing, or "rating," a customer's driving risk. By connecting and calculating numerous risk factors -- such as age, driving history, vehicle age and vehicle use -- The Hartford enables agents to generate a customized rate for each policyholder. Unlike other programs, Dimensions evaluates customers on an individual basis so that one driver will not affect the rates of other members in the same household.
With this personalized approach, agents are better equipped to keep their customers satisfied without drastically changing the price they pay for auto insurance each 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.
The Hartford's Dimensions plan, which offers a full range of comprehensive auto coverage, was first launched in 2003 and is now available in 41 states, including Nevada.
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 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.
Contacts: Joe Loparco 860-547-3397 Joseph.Loparco@thehartford.com Debora Raymond 860-547-9613 Debora.Raymond@thehartford.com
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