(Graphic: Business Wire)

The Hartford Financial Services Group, Inc., (NYSE: HIG), today announced that it has been recognized by the Ethisphere Institute as one of the World’s Most Ethical Companies for 2010. Out of a record number of nominations for the award, The Hartford secured a hard-earned spot on the list by going the extra mile, implementing upright business practices and initiatives that are instrumental to the company’s success, benefit the community, and raise the bar for ethical standards within the industry.

“The Hartford is pleased to be named one of the “World’s Most Ethical Companies” for the third consecutive year,” said Alan Kreczko, executive vice president and general counsel of The Hartford. “As The Hartford enters its third century, we remain deeply committed to ethical leadership. This commitment is sustained by employees at every level who continue to "do the right thing" in all situations. We work hard to achieve the highest standards of ethical business conduct and to preserve the trust we have earned with our customers, investors, business partners and government officials."

Through in-depth research and a multi-step analysis, Ethisphere reviewed thousands of nominations from companies in over 100 countries and 36 industries in order to determine the winners.

“The Hartford’s promotion of a sound ethical environment shines within its industry and shows a clear understanding that operating under the highest standards for business behavior goes beyond goodwill and “lip-service” and is intimately linked to performance and profitability,” said Alex Brigham, Executive Director of the Ethisphere Institute. “This year’s World’s Most Ethical Companies award was more competitive than ever, because companies realize that making ethics a priority is critical amidst a tough economic environment.”

Brigham added, “Compliance or ethics failures add up to more than fees, fines and penalties. The leadership distraction and turnover, forced alteration of a working profit model and heightened scrutiny that result show: good ethics means better business.”