Nationwide To Drop Policies In Florida

MIAMI (AP) -- 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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