Hartford exec dismissed over loose lips concerning Herbalife

|About: Hartford Financial Servi... (HIG)|By:, SA News Editor

Former VP in the director and officers group at Hartford Financial (HIG -0.3%) William Kelly says the insurer let him go after he told a reporter Herbalife (HLF -3%) had approached Hartford about purchasing a so-called directors-and-officers insurance policy. This type of insurance covers legal costs when board members and senior execs get sued.

Kelly says Hartford ultimately decided not to provide Herbalife with the requested insurance.

Kelly's comments came on the sidelines of a presentation Bill Ackman was giving lambasting Herbalife.