New Yorks chief regulator indicated he is not satisfied with insurers answers about why force-placed-insurance rates are so high when losses continue to be low.
New Yorks chief regulator indicated he is not satisfied with insurers answers about why force-placed-insurance rates are so high when losses continue to be low.
New York State regulators intend to expand their review of insurance coverages beyond force-placed insurance programs, according to Benjamin M. Lawsky, superintendent of Financial Services.
New York State regulators intend to expand their review of insurance coverages beyond force-placed insurance programs, according to Benjamin M. Lawsky, superintendent of Financial Services.
Assurant Insurance Companys specialty-property unit defended its forced-place-insurance practices, saying that, among other protections, it seeks to ensure that consumers are well-informed about their force-placed coverage.
Assurant Insurance Companys specialty-property unit defended its forced-place-insurance practices, saying that, among other protections, it seeks to ensure that consumers are well-informed about their force-placed coverage.
New York state regulators are calling on insurers to justify the rates they change for force-placed insurance coverage and say there is evidence of conflict of interest between bankers and insurers.