Filed Under:Markets, Personal Lines

Forced-Place Insurance Rises On Fed's Radar

NU Online News Service, March 9, 3:34 p.m. EST

The head of the Consumer Financial Protection Bureau will propose regulations this year imposing strict limits on use of force-placed insurance for homeowners’ rising to a place of concern among consumer advocates where it should not be an industry expert says.

He adds, “We believe our investigation will expose just how bad this problem is; get to the core of why this insurance is so outrageously priced; hold those responsible accountable, and produce real long-term, enforceable solutions.”

According to consumer advocates participating in the NAIC’s Consumer Liaison Committee meeting last Saturday in New Orleans, the market is dominated by two players, QBE, an Australian-based firm which acquired Balboa Insurance from the Bank of America, and Assurant.

Featured Video

Most Recent Videos

Video Library ››

Top Story

Hosting a Super Bowl 50 party? Watch out for these 5 risks

Follow these five tips to keep your guests and your home safe during your Super Bowl 50 party.

Top Story

Win big with these 7 food safety tips for your Super Bowl 50 party

Avoid food safety penalties at your Super Bowl party by following these seven tips.

More Resources


eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone

Advertisement. Closing in 15 seconds.