The deal is expected to close in November. This transfer of business will result in The Hartford becoming the second largest group life and disability insurer in the United States.
The CEO and Chairman of The Hartford, Christopher Swift, has been quoted as saying, “the combination of these two businesses strengthens our position as a leader in the large employer market and increases our presence among mid-size employer clients. It also creates new opportunities to distribute additional products to a customer base of more than twenty million people who will be insured by the combined business.”
What this sale ultimately means for disabled individuals receiving benefits from Aetna is unknown. We have not yet learned when the transfer of disabled individuals’ claims to The Hartford will officially occur or when notices will be sent. The last time The Hartford purchased a large disability insurance company, CNA, there was a noticeable uptick in LTD claim denials. Our law office saw a significant number of former CNA claimants have their disability claims terminated by The Hartford even after many of those claims had been paid for many years. We will be monitoring all of our Aetna clients’ claims to ensure they are treated fairly moving forward.