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.
Copyright 2025 Bloomberg.
Was this article valuable?
Here are more articles you may enjoy.
Brown & Brown Files Suit Over Alleged Howden Poaching of 200+ Employees 
Insurance Industry ‘Megadeals’ Dominate 2025, Says PwC 
Louvre Tightens Security After $102M Jewel Heist, Installs Bars on Infamous Window 
Viewpoint: Artificial Intelligence Is Rewriting the Rules for Commercial Lines 
