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Nationwide pays out $25m on Katrina claims

JACKSON, Mississippi (AP) — Nationwide Mutual Insurance Co. has paid more than $25 million to resolve hundreds of claims by Mississippi policyholders whose homes were damaged by Hurricane Katrina, state Insurance Commissioner George Dale said yesterday. Nationwide agreed in April to reevaluate and readjust 641 claims by policyholders. Most of those reopened claims were for homes that Katrina reduced to "slabs", leaving nothing but foundations after the August 29, 2005, hurricane.The company has paid more than $25 million to resolve 532 of those 641 claims, according to Dale. He said "negotiations are ongoing" for the 109 remaining claims.