Insurance Commissioner Wayne Goodwin wants North Carolinian homeowners to be aware of a class-action settlement with Nationwide Mutual Insurance Co. for which he estimates some 304,995 consumers across the state may qualify.
The settlement is between Nationwide Mutual Insurance Co. and affiliated companies and homeowner policyholders who say they were not paid enough for claims submitted from 1996 to March 20, 2009.
The lawsuit alleges Nationwide underpaid policyholders by not including general contractors’ overhead and profit when paying certain claims involving damage to a building or other structures.
Nationwide maintains that it properly resolved and settled homeowner’s claims but agreed to settle the suit to avoid the cost and distractions of prolonged litigation.
Eligible consumers must submit their claim form by Aug. 26 to receive a potion of the settlement. Potentially eligible consumers should have received notice of the class-action lawsuit by mail.
Goodwin said those who think they were affected should visit the settlement’s Web site at www.alexanderclassactionsettlement.com to submit a claim. All claims must be submitted by Aug. 26.
The Nationwide companies involved are: Nationwide Mutual Insurance Co., Nationwide Mutual Fire Insurance Co., AMCO Insurance Co., Allied Property and Casualty Insurance Co., Depositors Insurance Co., National Casualty Co., Nationwide Insurance Company of America, Nationwide Affinity Insurance Company of America, Nationwide Property and Casualty Insurance Co., Nationwide Lloyds, Nationwide Insurance Company of Florida, Nationwide Indemnity Co., Scottsdale Indemnity Co., Scottsdale Surplus Lines Insurance Co. and Scottsdale Insurance Co.
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