The Hartford, one of the largest workers' compensation carriers in the country, announced its first quarter profits had dropped by more than half, thanks to claims, premium losses and investment losses resulting from the COVID-19 pandemic.
The company's underwriting operations also took a hit of about $50 million because New York's Disability and Paid Family Leave law caused a spike in short-term disability claims and new benefits as well as a drop in premium revenue, the company said.
“The COVID-19 pandemic has forced unprecedented change in all aspects of society and the ...
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