Approximately 230,000 current and former Nationwide term-life insurance customers across the country will benefit from the recent settlement of a class-action lawsuit against the Columbus-based company. Nationwide has agreed to pay a $6 million settlement in connection with a suit filed in Franklin County Common Pleas Court in 2005. It was alleged that the company collected more than the maximum annual premiums outlined in their policies. Nationwide had been accused in the lawsuit of fraud and violating Ohio consumer-protection laws. The suit charged that customers who paid semi-annually, quarterly or monthly were charged more than the maximum premium. Those who paid once a year were not charged additional fees. About 26,500 of those 230,000 customers are in Ohio. The overpayments were said to have taken place between February 10, 1990, and February 2, 2006.
Source: The Columbus Dispatch
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.