homeowners insurance regulations Archives

Force placed insurance regulations to be altered in the United States

November 8, 2013November 5, 2013 G. Turner

The FHFA now intends to ban mortgage lenders from being able to receive payments. The Federal Housing Finance Agency (FHFA) is now working to ban mortgage companies from being able to receive lucrative payments in order to arrange for forced placed insurance on behalf of homeowners in certain situations, such as when an existing policy has been allowed to lapse or has gone unpaid, against the agreement of the loan. The U.S. housing regulator is working to stop this controversial payments practice from continuing. Government officials have revealed that force…

Homeowners insurance changes proposed by Florida commissioner

January 18, 2013January 18, 2013 H. Cutner

Alterations have been put forward to the property coverage in the state, particularly for Citizens. Kevin McCarty, the commissioner in Florida, has proposed some considerable changes to the homeowners insurance system in the state, particularly when it comes to the coverage offered by Citizens. This was announced by the commissioner to the state Senate Banking and Insurance Committee this week. The goal for McCarty’s proposals is the decrease the risk faced by the Citizens, the state backed homeowners insurance company of last resort. At the moment, that insurer is responsible…