Nation Wide Mutual Settles for $100M |
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A class action lawsuit has been filed in U.S. District Court for the District of Delaware against Nationwide Mutual Insurance Company.
Policyholders of Nationwide Mutual could get a slice of a settlement totaling at least $100 million in a class-action lawsuit that was litigated and negotiated. Nationwide Mutual Insurance Co., of Columbus, Ohio, agreed to the settlement while admitting no wrongdoing in the suit that initially was filed in Polk County District Court during 1997.
“It is the largest class-action settlement in Iowa history,” the lawyer said. “The settlement is $100 million minimum and a maximum of $135 million. The case was very complex and very novel and a handful legally.”
The settlement affects policyholders of Allied Mutual Insurance Co. who were customers as of Feb. 18, 1993. Allied merged with Nationwide in 1998. As of Tuesday, 62,000 policyholders were eligible, but Giebelstein said there may be as many as 300,000 able to share in the settlement. They have until Jan. 10 to file claims to be part of the class.
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Other Insurance Cases of Interest
The parties have reached a settlement apparently valued at $5,850,000 in an action filed against the Insurance of America Agency, Inc., the National Business Association, Inc., the American National Insurance Company, Inc., and the American National Life Insurance Company of Texas on behalf of all persons (1) who obtained certificates of insurance from American National Life Insurance Company of Texas, Inc., or American National Insurance Company, that were the subject of a trust agreement in which those companies were the administrators for the National Business Association insurance program after October 12, 1996, or (2) who were over eighteen as of July 1, 2003, and were insured under certificates containing a co-pay and wellness benefit rider offered by American National Life Insurance Company of Texas when notices issued in their state of residence that the rider was to be deleted. Persons who have not received notification, but are eligible to take part in the action should contact class counsel as soon as possible. A class action has been filed against Kennecott Holdings Corporation for denying medical insurance benefits and claim denial review against the Employee Retirement Income Security Act (ERISA). The class seeks costs, interests and attorneys’ fees. A class action lawsuit has been filed in federal court against Safeco Insurance Company of America. Although originally filed in Orange County (California) State Superiof Court, the case has been removed to the federal court system at the request of the defendants. The case involves violations of federal fair credit reporting law. No additional information about the substance of the allegations is available at this time. Classactionamerica.com will monitor this case and provide additional details as soon as they become available. The issue of corporate health plan prescription contraceptive coverage is growing quickly. A class action has been filed against DaimlerChrysler Corporation on behalf of women employees who allege that the company discriminated against them by failing to include prescription contraceptives in its health plan coverage in violation of federal civil rights laws.
The parties have reached a tentative settlement, valued at at least $1.6 million, of a class action filed against Frontier Insurance Group, Inc. (Pink Sheets: FTER, formerly OTCBB: FTER and certain of its officers and directors by stockholders who purchased the company's common stock between February 10 and November 8, 1994. The parties have reached a proposed $7.87 million settlement of a class action against Republic Mortgage Insurance Company on behalf of mortgage borrowers whose mortgage was insured by Republic under a certificate that became effective between December 18, 1996, and March 31, 2003. The action claims that the insurance was provided on terms that were very favorable to the mortgage lenders. To recover under the settlement, class members must submit a claim form postmarked no later than September 8, 2003.
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