COLUMBUS, Ohio, Aug. 15 /PRNewswire/ -- "We are very pleased that the
court ruled in our favor and upheld the long-standing flood exclusion
language which is foundational to traditional homeowner policies across the
country. We are also pleased the court found no misrepresentation on the
agent's part. The facts clearly demonstrated the damage the Leonards' home
incurred was overwhelmingly due to floodwaters. This is clearly the type of
damage covered by flood insurance provided through the National Flood
Insurance Program.
The court found that it would be inappropriate to re-write our contract
after-the-fact.
While it is unfortunate that the Leonards did not choose to purchase
flood coverage, insurance carriers have an obligation on behalf of all
policyholders to adjust claims based on factual evidence that supports
coverage payments. We will continue to adjust claims on a case-by-case
basis.
This ruling underscores just how important it is for all policyholders
to carefully read and understand the terms of the coverage they purchase."
Nationwide and the Nationwide Framework are federally registered
service marks of Nationwide Mutual Insurance Company. On Your Side is a
service mark of Nationwide Mutual Insurance Company.
Contacts:
Joe Case (614) 249-6353
casej6@nationwide.com
SOURCE Nationwide
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Related links:
http://www.nationwidefinancial.com
http://www.prnewswire.com/comp/607050.html/
CONTACT:
Joe Case of Nationwide, +1-614-249-6353, or
casej6@nationwide.com
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