Insurers Probed by New York Over Force-Placed Coverage
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New York’s insurance regulator is investigating whether force-placed insurance rates charged by companies are excessive and is seeking information from Assurant Inc. and other insurers.
The state Department of Financial Services, saying it is seeking a basis for “consistently high profits” at the expense of homeowners and investors, is requiring information from a group of insurers, including Assurant units, QBE Insurance Corp. and Balboa Insurance Co., it said today in a statement.