First National Insurance of America

From LoveToKnow Insurance

First National Insurance of America began operating in the late 1920s. This insurance company was a subsidiary of Safeco Insurance and was subject to much scrutiny as well as lawsuits.

Troubles

First National Insurance of America encountered a variety of legal problems and governmental inquiries until it was eventually dismantled and ceased operations. Problems with this insurance company included:

  • Various complaints that legitimate claims were not paid
  • A variety of lawsuits filed by customers alleging that not all aspects of insurance terms were properly disclosed
  • Lawsuits alleging the company misrepresented the opportunity for wealth building opportunities with cash-value insurance products
  • Governmental inquiries resulting in discoveries of the company operating contrary to disclosed operating procedures

These complaints, inquiries and lawsuits took place in different states, leading to the involvement of various state Departments of Insurance. This company wound up paying many different fees as a result of improper operating practices and lawsuits where they were found liable. After myriad problems and issues, this company ceased operations. This company is no longer in business.

Safeco Subsidiary

This insurance company was a subsidiary of Safeco, an insurance company offering a wide range of insurance products to consumers and small businesses. Although this company no longer operates, Safeco still operates as a thriving insurance company.

Safeco offers many different insurance products including:

  • Auto Insurance
  • Homeowners Insurance
  • Surety Bonds
  • Business Insurance Products

More information regarding Safeco, including products offered, quotes for coverage and corporate details, can be found on the Safeco website. Information regarding the Safeco relationship with First National Insurance is not readily available on the Safeco website.

Other "First National" Insurance Companies

Many other insurance companies operate under the name First National Insurance, and are not necessarily involved with the same company that no longer assists. Insurance companies operating under the name First National Insurance are completely separate entities. Examples of these companies include First National Insurance Company, which is an insurance brokerage in Minnesota. This company has no affiliation with the First National Insurance of America that operated under Safeco Insurance.

If you have questions regarding a company's involvement with the Safeco subsidiary, speak with a customer service representative of the company.

Other companies operating under the same or similar names include:

There are also many financial services companies that operate under the title of "First National" or a similar title. This does not indicate that these companies were ever affiliated with the same company that is no longer in business.

First National Insurance of America Customer Entitlements

Previous customers of this insurance company may have been entitled to a settlement as a result of one of the many lawsuits filed. People who think they may be entitled to a monetary settlement should contact the legal representation team who originally filed the lawsuit on behalf of a group of customers.

Simply being a previous customer of this insurance company does not guarantee that there is a settlement entitlement. Additionally, being a customer represented within a lawsuit does not necessarily mean that a substantial monetary settlement is waiting for the customer.

Lesson Learned

Not all insurance companies are created equally, and once in a while there are insurers who operate contrary to what is best for the customers they serve. Choose an insurance company with care and make sure that you look beyond merely the cost of the coverage.



 


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