Eames v Nationwide Mutual Insurance Company

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Nation Wide Mutual Settles for $100M

Case ID: 3770

Amount At Issue: $100,000,000.00

Category: Insurance

Last Update: 02/27/2006

Country:

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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