Nationwide Financial Services, a component of group, was publicly-traded on the New York Stock Exchange prior to being purchased by Nationwide Mutual in 2009.
Nationwide is one of the largest insurance and financial services companies in the world, focusing on domestic property and casualty insurance, life insurance and retirement savings, asset management, and strategic investments.
Lawsuits Brought Against Nationwide InsuranceHave you recently been in a car accident in which either you, the at-fault or both have been covered by the Nationwide Insurance Company? Many accidents require you to take legal action. While this may be unpleasant at times, it is crucial to research how other people, organizations and companies have successfully navigated insurance claims and settlements with specific insurance companies in order to achieve a just settlement or court outcome. This will provide you with strategies designed to help you avoid repeating similar mistakes others have made when legally dealing with insurance companies. Research gives you helpful insight as to which strategies and actions that might affect the monetary value of your settlement. It also helps identifdy critical legal strategies and avenues that have helped win lawsuits against major insurance companies such as Nationwide Insurance.
Insurance companies are renowned for delaying the release of settlement funds to its individual clients because they understand this segment of its business generally cannot afford to legally press for the speedy release of these funds. This questionable practice is implemented by an extremely high percentage of insurance companies. It is designed as both a money-making and a money-preserving technique. Major insurance companies usually have tens of billions of dollars due to high volume revenue and cash flow. Similar to banks, they invest these funds in order to amplify their profits. Even if they are required to pay a settlement, they will hold the money as long as legally possible in a leveraged effort to increase their own profits through the interest they earn on their investments.
In addition to delaying the disbursement of settlement funds, most insurance companies implement many of the following strategies to cut costs and generate profit:
- Nickel and dime smaller individual clients with various charges with the knowledge they cannot afford to investigate their legal options.
- Present clients with a very small initial settlement offer, as many policy holders do not realize they do not have to accept the insurance company’s first offer.
- Wait until the last possible week to disperse funds, as some negotiations can last well over a year.
- If you have sustained personal injuries that will be permanent, it is important to use an expert trial attorney.
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