Force-Placed Insurer Has Way Around Regulation

Horwitz, Jeff
June 2011
Mortgage Servicing News;Jun2011, Vol. 15 Issue 6, p31
The article reports on the issue concerning the force-placed insurance citing the law suit filed by Florida attorney Jeffrey Golant against QBE Specialty Insurance Co. and Wells Fargo & Co. It notes that state lawyers criticize forced-placed insurance for it provides sizeable profit for mortgae services, wherein banks gather lucrative commisions from insurers. It implies that since that insurers charge high premium to counterbalance the inconstant availability of reinsurance.


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