Live Insurance News

Montana insurance market will be losing Assurant

June 15, 2015June 13, 2015 G. Turner

The health insurer has now announced its intentions to step out of the state and will be notifying its customers. The Montana insurance marketplace will soon have one fewer company to include among those selling health plans, as Assurant has filed its notice to leave the state and will soon be sending its policyholders their notifications, as well. The Wisconsin-based health insurance company is seeking to step out of this type of offering. Assurant Health has said that it will be leaving the 7,283 customers that it serves in the…

Force placed insurance lawsuit causes Citi to pay $110 million

February 10, 2014February 8, 2014 G. Turner

Citigroup Inc. has agreed to pay the money to thousands of homeowners who had been overcharged. According to recent news, Citigroup Inc. has now agreed to a payout of $110 million to thousands of homeowners who had force placed insurance applied to them when the allowed their own coverage to lapse or they stopped making payments. The forcibly charged property coverage came with highly expensive premiums, said a court filing. This trend of force placed insurance lawsuits has been spreading across the United States, as many American insurers and banks…

Force placed insurance settlement reached by Assurant and J.P. Morgan Chase

September 13, 2013September 10, 2013 Julie Campbell

The agreement that has been reached will require a payment of a total of $300 million to resolve the allegations. Assurant Inc. and J.P. Morgan Chase have now agreed to a settlement in a class action suit against them that will cause them to pay $300 million in order to resolve the allegations against them regarding force placed insurance selling. The claims against the companies had to do with a special type of homeowners coverage applied on behalf of the policyholders. The settlement that has been proposed is among the…