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Auto insurance issues dominate state legislative landscape in 2012

The New York State Department of Financial Services ordered force-placed insurers to submit new proposals for premium rates, contending that the industry charges homeowners too much, an order that was music to consumer groups' ears.

The New York State Department of Financial Services ordered force-placed insurers to submit new proposals for premium rates, contending that the industry charges homeowners too much, an order that was music to consumer groups' ears.

New York States move to place Financial Guaranty Insurance Co. into rehabilitation does not necessarily mean the end is near for the bond insurer, but it faces a difficult road ahead says one industry expert.

New York States move to place Financial Guaranty Insurance Co. into rehabilitation does not necessarily mean the end is near for the bond insurer, but it faces a difficult road ahead says one industry expert.

The lack of competition and exorbitant rate charges point to a need for strong regulation of force-placed insurance programs, say consumer advocates in New York.

The lack of competition and exorbitant rate charges point to a need for strong regulation of force-placed insurance programs, say consumer advocates in New York.

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.