National General Says It Acted Properly in Wells Fargo Insurance Business

By | August 9, 2017

National General Holdings Corp., the auto insurer that picked up business from Wells Fargo & Co. customers who didn’t realize they were buying the coverage, said it acted appropriately.

“We believe that our practices in this highly regulated industry are compliant,” National General Chief Executive Officer Barry Karfunkel said in a conference call Tuesday discussing quarterly results.

Customers have sued Wells Fargo for forcing them to pay for unnecessary insurance that drove some of them into default on their car loans. They have alleged that National General was also involved in the scheme.

“We are reviewing the recently filed litigation,” Karfunkel said.

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Latest Comments

  • August 15, 2017 at 11:47 pm
    CPI says:
    Nope, National General not only was aware, but was in bed with Wells Fargo the whole time. Went so far as to also cover vehicles for Wells even AFTER they ended the program- ... read more
  • August 9, 2017 at 4:41 pm
    martin says:
    Did anyone ever stop to think that maybe some customers complained to National general about duplicate coverage? I would bet my hard earned dollars and 30 years in this indust... read more
  • August 9, 2017 at 1:50 pm
    Agent says:
    Actually, National General has been just as complicit as Wells Fargo. Don't apologize for them.

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