Nationwide Insurance has reached an agreement with state regulators to audit its claims from the 2004 hurricane season and correct any underpayments. The state Office of Insurance Regulation has announced that under the agreement Nationwide will also pay $250,000 in administrative costs for an investigation by the office into Nationwide’s claims.
Nationwide has also agreed to review its adjusting procedures and repay money when multiple deductibles were incorrectly applied if the policy holder wasn’t already reimbursed through the state’s program for those hit with multiple deductibles.
Was this article valuable?
Here are more articles you may enjoy.
New Jersey Employers Should Prepare Now for Oct. 1 Independent Contractor Rule 
McKinsey Rebukes Partner Who Questioned Challenges Facing Women CEOs 
Hellman & Friedman Explores Sale of Applied Systems at Up to $10B, Sources Say 
Lawsuits Allege Six Flags Roller Coaster Caused Traumatic Brain Injuries From This Issue
