Lucrative force-placed insurance under scrutiny
Growing scrutiny into practices around force-placed insurance in the US has cast doubt over what was, until recently, a highly profitable source of business for P&C (re)insurers.
The spotlight on the sector may even be impacting Bank of America's proposed sale of its Balboa Insurance unit, which specialises in writing the line.
A November article in the influential American Banker newspaper highlighted the high cost of force-placed insurance, its retroactive coverage and the relationship between writers of the business and...
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