National General Holdings Corp., the auto insurer that picked up business from Wells Fargo & Co. customers who didn’t realize they were buying the coverage, said it acted appropriately.
“We believe that our practices in this highly regulated industry are compliant,” National General Chief Executive Officer Barry Karfunkel said in a conference call Tuesday discussing quarterly results.
Customers have sued Wells Fargo for forcing them to pay for unnecessary insurance that drove some of them into default on their car loans. They have alleged that National General was also involved in the scheme.
“We are reviewing the recently filed litigation,” Karfunkel said.
Copyright 2026 Bloomberg.
Was this article valuable?
Here are more articles you may enjoy.
Data Centers Offer a Potential $10 Billion Windfall for Insurers 
Florida Mobile Home Insurance Market Still Struggling With Premiums, Coverage 
How Niche Insurance Shielded Bad Bunny From Bad Weather 
Viewpoint: Japan’s $550B Bet on America—What it Means for the US Insurance Market 
