Gilman Law LLP Sues HSBC on Behalf of a Widow Whose Homeowners Insurance Was Forced Placed Business Wire BOSTON -- November 13, 2013 Gilman Law LLP has filed an action against HSBC Finance Corp. ("HSBC"), Assurant, Inc., and other related defendants on behalf of a homeowner who had hazard insurance force placed on her property. The case is styled Blackburn v. HSBC Finance Corp. et al., No. 1:13-mi-99999-UNA, Doc. 2396, and was filed on November 8, 2013 in the U.S. District Court for the Northern District of Georgia – Atlanta Division. The homeowner, a widow, is a resident of Alabama. She alleges that, among other things, HSBC force placed a hazard policy on her home through a subsidiary of Assurant after her home was destroyed by fire (Complaint, paras. 67-78). Although she was fully insured at the time of the fire through her own insurance, lender HSBC subsequently force placed hazard insurance on what remained of the burned-down home. The widow contends that she was not able to locate an insurer willing to sell her a new hazard policy on the destroyed home until it had been rebuilt. Further, she claims that Assurant remitted "kickback" commissions to HSBC for allowing Assurant's subsidiary to force-place the hazard policy. The end result – she alleges that HSBC's business practices have cost her thousands of dollars in unnecessary insurance expenses. The Force-Placed Insurance Industry Mortgage contracts typically allow a lender to impose hazard or flood insurance on a property if required insurance coverage has been allowed to lapse. In the vast majority of cases, force placed policies cost far more than the standard homeowners' coverage a consumer can purchase on their own. These exorbitant prices are often driven by the kickback commissions that mortgage companies have been allowed to accept from insurers for the privilege of arranging force placed policies. Regrettably, the widow's complaint against HSBC is one of many alleged against lenders, servicers, and insurers in recent years. This means that tens of thousands of people around the country who had hazard or flood insurance forced placed on their property may be entitled to millions of dollars in compensation from HSBC and other mortgage lenders, servicers, and insurers such as Assurant due to the predatory manner in which the industry has been allowed to operate. Despite actions by regulators to change the industry's mode of operation in recent months, the only recourse available to past victims of these egregious forced placed insurance practices may be through the courts. In summary, victims of force placed insurance may be entitled to significant financial compensation, but the time to act is growing short. Force Placed Insurance Claims Gilman Law LLP is already representing many consumers nationwide who have been victims of forced insurance, but the firm's force placed insurance lawyers believe that these consumers represent only a fraction of those who may have been thrown into foreclosure or had their credit ruined due to forced placed insurance. Hence, Gilman Law LLP is urging any affected consumer to contact the firm immediately for a free, no obligation force placed insurance lawsuit consultation. Gilman Law LLP believes that in some cases, property owners may be entitled to compensation equaling as much as 25% of the premiums they were assessed for force placed hazard or flood insurance. Affected consumers, however, have only a brief time in which to act. In addition to HSBC, Gilman Law LLP continues to prosecute forced placed insurance lawsuits against other lenders and servicers, including Bank of America, Citibank, M&T Bank, Green Tree, Nationstar, Chase, OCWEN, U.S. Bank, ING, Capital One, American Security, QBE, and Assurant, Inc. If any of these lenders held a mortgage on your home and force-placed hazard or flood insurance on your property, it is of the utmost importance that you contact Gilman Law LLP today, at 1-888-252-0048 to preserve your right to compensation. Don’t hesitate! Call Gilman Law LLP now to ensure your legal rights are not placed in jeopardy. About Gilman Law LLP Gilman Law LLP, a leading consumer law firm with offices in Florida and Massachusetts, has been recognized for delivering successful results to their clients across a broad range of claims stemming from consumer product injury, mass tort, and class action lawsuits. For over 34 years, the Gilman Law LLP team of highly experienced lawyers has earned renown for tireless work on behalf of their clients on many of today's most challenging and important legal issues. Contact: Gilman Law LLP Kenneth Gilman, 1-888-252-0048
Gilman Law LLP Sues HSBC on Behalf of a Widow Whose Homeowners Insurance Was Forced Placed
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