Assurant, Inc. has agreed to refund $14 million to New Yorkers who were required to buy force-placed homeowners insurance.
The insurer also agreed to cut its rates and institute other reforms as part of a settlement with the state.
Benjamin Lawsky, superintendent of the state Department of Financial Services, asked QBE, the other major writer of force-placed policies, to step to the plate and accept the same reforms Assurant has agreed to.
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