forced placement insurance News

Regulators Reject Wells Fargo’s Plan to Repay Insurance Customers: Reuters

U.S. regulators have rejected Wells Fargo & Co.’s plan to repay customers who were pushed into unnecessary auto insurance, telling the bank it must do more to ensure it has found and compensated every affected driver, three sources familiar with …

New Force-Placed Insurance Rules Prompt $100 Million Agency Sale

One of the country’s largest overseers of troubled home loans, Nationstar Mortgage Holdings Inc., is quietly trying to sell a $100 million insurance agency that doesn’t appear to exist. Harwood Service Co. has no website, no independent offices and only …

Florida Says 36% Cut in Forced Place Insurance Rate Justified

Praetorian Insurance Co. is facing up to a 36 percent rate reduction for Florida homeowners. Florida Insurance Commissioner Kevin McCarty on Friday announced his intent to disapprove a company proposal for a 2.2 percent decrease. McCarty said his Office of …