DE To Get Money From Assurant Settlement


The Delaware Department of Insurance, along with 48 other jurisdictions, have reached a multi-million dollar settlement with Assurant Inc. after the company wrote force-placed property insurance. Force-placed property insurance allows a lender to insure its interest in a property after the property owners insurance has expired or determined unsatisfactory. The settlement became effective on March 20. Assurant will be paying out $75 million, of which Delaware will be getting over $212,000 from the settlement.