Lee Morton, the regional vice president for North Carolina at Nationwide Insurance addressed the N.C. Legislative Research Commission Joint Study Committee on Automobile Insurance Modernization regarding the improvement of rate systems. He talked about the competitive, strong, healthy, diverse, and low-cost system for auto insurance that is already present within the state and identified concerns about the impact that changing the system could have on the state’s motorists. Morton explained that the insurance system in the state is currently fair to all motorists and provides consumers with protection against rate…
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Nationwide and Allied Insurance team to respond to natural disasters in Southeastern U.S.
Nationwide and Allied Insurance are coming together to provide policyholders with quick assistance in the wake of natural disasters that have come to the Southeastern U.S. In the past year, residents of Southeastern states have been inundated with storms, tornadoes and floods. These disasters have caused extensive damage to homes and businesses and put severe strain on the economy of the region. Insurers hold out hope that 2012 will not be a retelling of the previous year in terms of catastrophes, but recent storms have shaken that hope. The two…
Read MoreNationwide joins comparethemarket.com to offer auto insurance to the UK
Comparethemarket.com, one of the largest price comparison sites serving the insurance industry in the UK, has announced that Nationwide Insurance has joined its panel of insurers. The company, which boasts of being one of the largest property insurers in the U.S., also has an expansive line of auto insurance products. These products will be submitted to the comparethemarket.com website where they will be subject to comparisons of policies offered by other companies. Jeremy Moll, commercial director for comparethemarket.com, hopes that consumers will have a broader understanding of the differences in…
Read MoreThe end of the year brings an increase in vehicle sales
The demand in the American automobile marketplace has risen at a higher rate than was forecasted, as automakers are now aimed at the best yearly performance that it has seen since 2008, having sold 12.8 million vehicles in 2011. At the start of December, consumers have finally started making their way back to vehicle shopping and are seeking models that range from luxury sedans and large pickup trucks to the trendy low fuel consumption hybrids. This has helped to boost the sales in November to the fastest monthly rate since…
Read MoreNationwide Insurance reports losses in the third quarter due to natural disasters and poor investment results
Nationwide Insurance has reported its third quarter financial results for this year. The report details a turbulent third quarter, which has been wracked by severe storms and other natural disasters along with costly investment mishaps. Overall, the report shows that the insurer has lost billions in investments and millions in claims relating to storm damage. While Nationwide has an optimistic outlook for the remainder of the fiscal year, there can be no doubt that recent events will encourage changes to be made to the company’s policies. Nationwide reports that its…
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