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                                                                    EXHIBIT 5.04


                 [Letterhead of Richards, Layton & Finger, P.A.]






                                November 9, 2000




Hartford Capital V
c/o The Hartford Financial Services Group, Inc.
Hartford Plaza
Hartford, Connecticut 06115

              Re:    Hartford Capital V

Ladies and Gentlemen:

              We have acted as special Delaware counsel for The Hartford
Financial Services Group, Inc., a Delaware corporation (the "Company"), and
Hartford Capital V, a Delaware business trust (the "Trust"), in connection with
the matters set forth herein. At your request, this opinion is being furnished
to you.

              For purposes of giving the opinions hereinafter set forth, our
examination of documents has been limited to the examination of originals or
copies of the following:

              (a)    The Certificate of Trust of the Trust, dated November 9,
2000 (the "Certificate"), as filed in the office of the Secretary of State of
the State of Delaware (the "Secretary of State") on November 8, 2000;

              (b)    The Trust Agreement of the Trust, dated as of November 7,
2000, between the Company and the trustee of the Trust named therein;

              (c)    A form of Amended and Restated Trust Agreement of Trust of
the Trust (including Exhibits A, C and E thereto) (the "Trust Agreement"), to be
entered into among the Company, as depositor, the trustees of the Trust named
therein, and the holders, from time to time, of undivided beneficial interests
in the assets of the Trust, attached as an exhibit to the Registration Statement
(as defined below);


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Hartford Capital V
November 9, 2000
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              (d)    The Registration Statement on Form S-3, and Post-Effective
Amendment No. 1 to Registration on Form S-3 (jointly, the "Registration
Statement"), including a preliminary prospectus (the "Prospectus"), relating to
the preferred securities of the Trust representing preferred undivided
beneficial interests in the assets of the Trust (each, a "Preferred Security"
and collectively, the "Preferred Securities"), as proposed to be filed by the
Company, the Trust and others as set forth therein with the Securities and
Exchange Commission on or about November 9, 2000; and

              (e)    A Certificate of Good Standing for the Trust, dated
November 9, 2000 obtained from the Secretary of State.

              Capitalized terms used herein and not otherwise defined are used
as defined in the Trust Agreement.

              For purposes of this opinion, we have not reviewed any documents
other than the documents listed in paragraphs (a) through (e) above. In
particular, we have not reviewed any document (other than the documents listed
in paragraphs (a) through (e) above) that is referred to in or incorporated by
reference into the documents reviewed by us. We have assumed that there exists
no provision in any document that we have not reviewed that is inconsistent with
the opinions stated herein. We have conducted no independent factual
investigation of our own but rather have relied solely upon the foregoing
documents, the statements and information set forth therein and the additional
matters recited or assumed herein, all of which we have assumed to be true,
complete and accurate in all material respects.

              With respect to all documents examined by us, we have assumed (i)
the authenticity of all documents submitted to us as authentic originals, (ii)
the conformity with the originals of all documents submitted to us as copies or
forms, and (iii) the genuineness of all signatures.

              For purposes of this opinion, we have assumed (i) that the Trust
Agreement and the Certificate are in full force and effect and have not been
amended, (ii) except to the extent provided in paragraph 1 below, that each of
the parties to the documents examined by us has been duly created, organized or
formed, as the case may be, and is validly existing in good standing under the
laws of the jurisdiction governing its creation, organization or formation,
(iii) the legal capacity of natural persons who are parties to the documents
examined by us, (iv) that each of the parties to the documents examined by us
has the power and authority to execute and deliver, and to perform its
obligations under, such documents, (v) that each of the parties to the documents
examined by us has duly authorized, executed and delivered such documents, (vi)
the receipt by each Person to whom a Preferred Security is to be issued by the
Trust (collectively, the "Preferred Security Holders") of a Preferred Securities
Certificate for such Preferred Security and the payment for the Preferred
Security acquired by it, in accordance with the Trust Agreement and as described
in the Registration Statement, and (vii) that the Preferred Securities azre
issued and sold to the Preferred Security Holders in accordance with the Trust
Agreement and as described in the Registration Statement. We


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Hartford Capital V
November 9, 2000
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have not participated in the preparation of the Registration Statement and
assume no responsibility for its contents.

              This opinion is limited to the laws of the State of Delaware
(excluding the securities laws of the State of Delaware), and we have not
considered and express no opinion on the laws of any other jurisdiction,
including federal laws and rules and regulations relating thereto. Our opinions
are rendered only with respect to Delaware laws and rules, regulations and
orders thereunder that are currently in effect.

              Based upon the foregoing, and upon our examination of such
questions of law and statutes of the State of Delaware as we have considered
necessary or appropriate, and subject to the assumptions, qualifications,
limitations and exceptions set forth herein, we are of the opinion that:

              1.     The Trust has been duly created and is validly existing in
good standing as a business trust under the Delaware Business Trust Act.

              2.     The Preferred Securities represent valid and, subject to
the qualifications set forth in paragraph 3 below, fully paid and nonassessable
undivided beneficial interests in the assets of the Trust.

              3.     The Preferred Security Holders, as beneficial owners of the
Trust, are entitled to the same limitation of personal liability extended to
stockholders of private corporations for profit organized under the General
Corporation Law of the State of Delaware. We note that the Preferred Security
Holders may be obligated to make payments as set forth in the Trust Agreement.

              We consent to the filing of this opinion with the Securities and
Exchange Commission as an exhibit to the Registration Statement. In addition, we
hereby consent to the use of our name under the heading "Legal Opinions" in the
Prospectus. In giving the foregoing consents, we do not thereby admit that we
come within the category of Persons whose consent is required under Section 7 of
the Securities Act of 1933, as amended, or the rules and regulations of the
Securities and Exchange Commission thereunder. Except as stated above, without
our prior written consent, this opinion may not be furnished or quoted to, or
relied upon by, any other Person for any purpose.

                                              Very truly yours,
                                              /s/ Richards, Layton & Finger P.A.


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