New York regulators expand force-placed review
New York State regulatory authorities are to broaden their
review of insurance lines beyond force-placed programmes once
current hearings on homeowners' coverage are over.
The superintendent of New York's Financial Services, Benjamin
Lawsky, commented on the department's expanded review at a
17-18 May hearing on force-placed insurance.
In early April, the Department of Financial Services, which
oversees both the insurance and banking industry in the state, had
called for insurers to justify excessive rates on force-placed
coverage. However Lawsky indicated...
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