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

Force placed insurance
State Farm insurance company sues A...
➡️ WATCH TOP INSURANCE NEWS STORIES IN: ENGLISH & SPANISH

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…

Read More

Force placed insurance penalties to be paid by Assurant

force placed insurance

The amount that the company will be paying will come to an estimated $14 million. Assurant Inc., the largest provider of force placed insurance in the United States, is now facing voluntary penalties of $14 million, following the outcome of an investigation that called the company’s practices into question. This is one of the latest of several similar penalties being faced by insurers with similar practices. Force placed insurance is a completely normal and legal form of coverage in the United States, and is purchased on behalf of a homeowner…

Read More