The Hartford Expands Coverage For Asset Management Firms

The Hartford has expanded its management and professional liability insurance for asset management firms with a blended liability policy offering new and extended coverage to address key cyber and regulatory risks.

“Today’s asset management firms operate in an increasingly complex regulatory environment and face an unprecedented array of liability risks,” said Steve Prymas, vice president of management and professional liability insurance at The Hartford. “With the SEC’s heightened focus on cybersecurity preparedness and threats in the securities industry, it is more critical than ever for asset management firms to have appropriate insurance for these types of risks.”

Designed for firms of all sizes, The Hartford’s Asset Management Choice^SM Policy offers asset managers the opportunity to tailor coverage based on their specific needs. Coverage options include protection for directors and officers; investment advisor professional services; employment practices liability; private and registered funds; fiduciary and cyber liability; and kidnap & ransom, with new and expanded coverage¹ to help address:

• Network security liability;
• First party expenses related to network security risks, including breach-related notification costs;
• Crisis management services;
• Expenses related to cooperation with regulatory investigations;
• Expenses incurred to comply with regulations governing the recovery of erroneously awarded compensation²;
• Legal fees and expenses incurred by an employee called to testify as a witness in a hearing in which they are not a plaintiff or defendant.

“These enhanced coverage options are the latest example of our focus on developing comprehensive management and professional liability insurance products that respond to the rapidly shifting regulatory landscape in which our customers operate,” said Prymas.

For more information about The Hartford Asset Management Choice and the company’s property and casualty coverages for firms in the asset management industry, visit www.thehartford.com/AMC.

About The Hartford

With more than 200 years of expertise, The Hartford (NYSE: HIG) is a leader in property and casualty insurance, group benefits and mutual funds. The company is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at www.thehartford.com. Join us on Facebook at www.facebook.com/TheHartford. Follow us on Twitter at www.twitter.com/TheHartford.

HIG-M

Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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 2014 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, 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.

From time to time, The Hartford may use its website to disseminate material company information. Financial and other important information regarding The Hartford is routinely accessible through and posted on our website at http://ir.thehartford.com. In addition, you may automatically receive email alerts and other information about The Hartford when you enroll your email address by visiting the “Email Alerts” section at http://ir.thehartford.com.

Any discussion of coverage herein is a summary only. Coverage depends on the actual facts of each claim and the terms, conditions and exclusions of the issued policy. Please refer to the issued policy to determine all terms, conditions and exclusions of coverage. Coverage is provided by the property and casualty companies of Hartford Financial Services Group, Inc. and may not be available to all businesses in all states.

¹ where available

² Sarbanes Oxley Act Section 304 and Dodd Frank Act Section 954

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