Assurant Prices Reflect ‘Unique Risk,’ Unit CEO Says
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Assurant Inc., the insurer of foreclosed properties whose stock plunged after a report citing “evidence of abuses” in the industry, said the pricing of its policies reflects the “unique risk” of the homes it covers.
“Many of the properties we insure have a history of multiple losses,” said Gene Mergelmeyer, president of the New York-based company’s specialty unit, in a conference call today.