Nationwide Insurance Company has agreed to review thousands of insurance claims from the four major hurricanes that made landfall in 2004. The settlement comes in response to a complaint filed by Tom Gallagher, CEO of Florida's Department of Financial Services.
"The level of complaints my office received from Floridians definitely indicated that consumers were not being treated fairly," said Gallagher. "This agreement should go a long way toward making the consumers whole."
In the complaint, Nationwide was accused of underpaying some claims and collecting multiple deductibles improperly. According to state regulations, multiple deductibles apply only when it is clear that damage was caused by multiple storms. In the settlement with Florida, Nationwide will offer to review claims by customers who paid more than one deductible or made more than one hurricane-related claim last year.
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