August 18, 2017 4:52 PM ET

Insurance

Company Overview of Nationwide Mutual Insurance Company

Company Overview

Nationwide Mutual Insurance Company, together with its subsidiaries, provides insurance and financial services across the United States. The company offers auto, homeowners’, motorcycle, renters’, life, condo, small business, and specialty insurance solutions; retirement and investing solutions, including retirement plans, mutual funds, annuities, and life insurance; and banking services, including auto loans, mortgage loans, home equity lines of credit, CDs, checking and savings accounts, and credit and prepaid cards. It also offers personal and commercial property and casualty insurance; and small business, farm and ranch, commercial, and agribusiness and farm insurance. Additionally, the ...

One Nationwide Plaza

Columbus, OH 43215-2220

United States

Founded in 1925

Phone:

614-249-7111

Fax:

614-249-1451

Key Executives for Nationwide Mutual Insurance Company

Chief Executive Officer and Director
Age: 64
Chief Financial Officer and Executive Vice President
Age: 60
President of Nationwide Property & Casualty Ops and COO of Nationwide Property & Casualty Ops
President of Nationwide Direct & Member Solutions and COO of Nationwide Direct & Member Solutions
Age: 60
President of Nationwide Financial Services and COO of Nationwide Financial Services
Age: 53
Compensation as of Fiscal Year 2017.

Nationwide Mutual Insurance Company Key Developments

Attorney General Balderas Announces $113,000 Nationwide Insurance Data Breach Settlement

Attorney General Hector Balderas announced on August 9, 2017, that his office, along with the attorneys general of 32 States, have reached a settlement with the Nationwide Mutual Insurance Company and its subsidiary, Allied Property & Casualty Insurance Company (collectively Nationwide), concerning an October 2012 data breach. Over 10,000 New Mexicans were affected and New Mexico will be receiving $113,705.06 from the settlement. The data breach, which was alleged to have been caused by the failure to apply a critical security patch, resulted in the loss of personal information belonging to 1.27 million consumers, including their social security numbers, driver's license numbers, credit scoring information, and other personal data. The settlement requires Nationwide to take a number of steps to both generally update its security practices and to ensure the timely application of patches and other updates to its security software. Nationwide must also hire a technology officer responsible for monitoring and managing software and application security updates, including supervising employees responsible for evaluating and coordinating the maintenance, management, and application of all security patches and software and application security updates. Additionally, Nationwide agreed to take steps during the next three years to strengthen its security practices, including: Updating its procedures and policies relating to the maintenance and storage consumers' personal data. Conducting regular inventories of the patches and updates applied to its systems used to maintain consumers' personal information (PII). Maintaining and utilizing system tools to monitor the health and security of their systems used to maintain PII. Performing internal assessments of its patch management practices and hiring an outside, independent provider to perform an annual audit of its practices regarding the collection and maintenance of PII. In addition to the injunctive terms, Nationwide agreed to make a payment of $5.5 million to the attorneys general. The settlement was joined by the attorneys general of New Mexico, Alaska, Arizona, Arkansas, Connecticut, Florida, Hawaii, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Mississippi, Missouri, Montana, Nebraska, Nevada, New Jersey, New York, North Carolina, North Dakota, Oregon, Pennsylvania, Rhode Island, South Dakota, Tennessee, Texas, Vermont, Washington, and the District of Columbia.

Mark Pizzi-President of Nationwide's Direct and Member Solutions Channel-to Retire at Year's End

Mark Pizzi, president of Nationwide's Direct and Member Solutions channel, announced he will retire at the end of 2017. Pizzi has been with the company since 1978 and most recently has been responsible for the business unit delivering sales and service through direct channels, including Nationwide's bank.

Nationwide Mutual Insurance Co Plans to Cut Jobs in 2017

Nationwide Mutual Insurance Co announced that it is planning to cut jobs in 2017. It would cut an estimated 138 staff positions throughout the year at its Highland Hills Titan Insurance subsidiary office. The move comes as the firm is moving away from writing non-standard auto insurance policies.

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