The Hartford Offers New, Flexible Universal Excess Policy for Management Liability

HARTFORD, Conn., January 19, 2005 - A common challenge for brokers and agents servicing customers' management liability needs is the additional labor needed to match excess insurance with their clients' primary policies.
 
The Hartford Financial Services Group, Inc. (NYSE: HIG) has introduced Universal Excess, a new excess insurance policy that fits firmly over Directors & Officers Liability, Fiduciary Liability, Employment Practice Liability, Miscellaneous Professional Liability and Tech Errors & Omissions (E&O) products issued by any insurer, without the need to work out complex endorsement language to fill potential coverage gaps.
 
"Businesses buy excess insurance for additional protection, but it can be difficult to make these policies fit with the specific terms worked out for the primary policies," said Matt Shulman, vice president at Hartford Financial Products, a division of The Hartford. "Failing to do this properly can leave big gaps that the company's resources will have to fill, and can also lead to potential liability for broker or agent."
 
Universal Excess is a concise, versatile, clearly written policy form designed for public and private organizations of all sizes. Among its features:

• The policy follows the primary policy in such key areas as exclusions, definitions and severability clauses;
• The policy allows the underlying limits to be paid by the insured if the primary insurer becomes financially insolvent;
• The Discovery Clause follows the primary policy for extending the claim reporting period;
• The policy is straight-forward and contains no subrogation section, appeals section, or "other insurance" section;
• The policy cannot be cancelled by the insurer except for non-payment of premium. However, the policyholder can cancel in accordance with the primary policy.

"Today's challenging business, legal and regulatory environment, makes state-of-the-art excess coverage particularly important to handle potentially large financial losses. The Hartford's Universal Excess policy provides this coverage, supported by a team of underwriting and claims professionals known for their expertise and integrity," Shulman said.
 
For more information about Universal Excess or The Hartford's other financial products, brokers or agents, can visit www.hfpinsurance.com or call Patricia Fitzgerald at (212) 277-0457.
 
Coverage is provided by the member companies of The Hartford and may not be available in all states. See policy for actual coverage wording.
 
The Hartford (NYSE: HIG) is one of the nation's largest financial services and insurance companies, with 2003 revenues of $18.7 billion. The company is a leading provider of investment products, life insurance and group benefits; automobile and homeowners products; and business property-casualty insurance. The Hartford's Internet address is www.thehartford.com.