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Cuomo Administration Settles with Country's Largest Force-Placed Insurer

March 21, 2013

Department of Financial Services

Governor Andrew M. Cuomo today announced that a New York State Department of Financial Services (DFS) investigation has produced a major settlement with the country’s largest “force-placed” insurer, Assurant, Inc., which will help lead a nationwide reform effort for this industry.  The settlement includes restitution for homeowners who were harmed, a $14 million penalty paid to the State of New York, and industry-leading reforms that will save homeowners, taxpayers, and investors millions of dollars going forward through lower rates.

 

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