The Hartford Introduces Professional Liability Insurance Designed for Private Accounting Firms

New coverage is available exclusively through program manager Arrowhead; will protect firms with up to 50 accounting professionals.

HARTFORD, Conn., May 17, 2006 - Accounting professionals by training recognize financial strength and appreciate its importance. That's why many accounting firms look to The Hartford Financial Services Group, Inc. (NYSE: HIG), one of the nation's leading providers of insurance and financial services products, for their general business insurance needs. Now firms with up to 50 accountants can rely on The Hartford's experience, reputation and financial strength for their professional liability protection, as well.

Professional liability insurance is similar to malpractice insurance, protecting professionals from liability when an action - or failure to take action - results in injury or financial damage to a client. Hartford Financial Products, an underwriting unit of The Hartford, is now offering an Accountants Professional Liability product which provides coverage for certified public accountants and other accounting professionals, including public accountants, enrolled agents, tax preparers and bookkeepers.

"The accounting industry has changed significantly over the past several years," said Greg Leffard, a vice president at Hartford Financial Products. "Today, private accounting firms provide a broader array of services and face more potential liability than ever before. That's why they need insurance protection that matches the breadth of their services. We're confident that our Accountants Professional Liability product can help meet their needs."

This new coverage expands The Hartford's already broad range of products that cater to a large portion of the accounting industry, including business insurance, workers' compensation and commercial auto policies.

The product is administered by Arrowhead General Insurance Agency, Inc. (Arrowhead), a nationally recognized program manager that has a dedicated team of experienced professional liability underwriters that specialize in accounting industry customers. Arrowhead's sophisticated technology platform, Arrowhead Exchange, includes an automated application process that enables agents to quickly obtain premium indications and on-line quotations.

"We are pleased to be working with The Hartford on this excellent program," said Chuck Brady, president of Arrowhead's Professional Liability Division. "We are confident that The Hartford's strength and experience, coupled with the efficiency of our online platform, Arrowhead Exchange, and our very large distribution base, will make this program a great success."

Key policy features include:

A broad definition of professional accounting services that includes both advice given and services performed as an accounting professional;
Automatic coverage for newly acquired entities with five or fewer professionals, and for predecessor firms;
A 50 percent reduction of the deductible when claims are settled by alternate dispute resolution;
A 50 percent deductible credit for the use of engagement letters for services that don't involve an audit or other attestation services;
Payment for defense costs in disciplinary proceedings and reimbursement for lost earnings due to court appearances up to $500 a day per insured, $10,000 per policy period;
Defense coverage for discrimination charges up to $50,000 per policy period; and
A variety of options to extend the claim loss-reporting period, including extensions that cover retirement, and death and disability, for sole practitioners.

The Accountants Professional Liability product is sold through agents and brokers. To access this program, agents should contact Arrowhead's Professional Liability Division at 1-866-287-8031 or 310-965-0697, proliab@ArrowheadGrp.com or visit www.ArrowheadPro.com. For more information on insurance offered by Hartford Financial Products, brokers and 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.

Arrowhead General Insurance Agency, Inc., headquartered in San Diego, is an independent national program manager for commercial, personal and specialty lines. Arrowhead is one of the largest privately held general agencies in the United States and is committed to creating opportunities for its producers nationwide. Arrowhead's partnerships with strong insurance carriers provide stability and capacity for its vast distribution network. The foundation for success at Arrowhead is entrepreneurial spirit, which encourages opportunity, innovation and growth.

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 www.thehartford.com.

Some of the statements in this release may 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.