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Nationwide to drop 60,000 home policies

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The Associated Press

Published: October 7, 2009

MIAMI - Nationwide Insurance Co. of Florida has announced plans to drop about 60,000 home insurance policies.

The company announced Wednesday that it would not be renewing nearly half of its 129,000 home insurance policies in Florida, starting in July 2010.

Nationwide spokeswoman Nancy Smeltzer says the company made the decision to maintain viability and manage risk. The company will be directing its former policyholders to Tower Hill Insurance.

Once the policies are dropped, the Ohio-based company will have more than 275,000 total policies in Florida, covering cars, businesses and homes.

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Nationwide to drop 60,000 home policies

The Associated Press