Insurance Regulators Schedule Hearing for Force-Placed Coverage
The group representing U.S. insurance regulators will hold a hearing into coverage that homeowners are required to buy if they lapse on payments for their original policies and whether the practice harms consumers.
“We want to know more about rates, consumer disclosures and how the relationships many of the insurers have with the lenders affects the transactions,” said Sharon P. Clark, chairman of the National Association of Insurance Commissioners’ Market Regulation and Consumer Affairs Committee, in an e-mailed statement today. The hearing is scheduled for Aug. 9 in Atlanta.
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