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.

To contact the reporter on this story: Zachary Tracer in New York at ztracer1@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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