Insurance

Lender Placed Insurance Curbed
   Lenders and mortgage loan servicers would be barred from receiving sales commissions for placing insurance coverage or maintaining placement with particular insurers under a proposed rule
posted 4/1/13 5:26 PM  read complete story

More Aid Needed For Storm Flood Insurance
   In addition to the $82 million New York and New Jersey officials say is needed for Hurricane Sandy recovery efforts, Congress will have to consider a multi-billion dollar infusion into the National Flood Insurance Program. Whether Congress will get to it before the lame-duck session ends remains to be seen.
posted 12/7/12 11:51 AM  read complete story

FHA To Bar Loan Insurance Cancellations
   Borrowers with Federal Housing Administration-insured home loans will soon be stuck with paying for mortgage insurance for the life of the loan. It would be a tradeoff for the lower cost of the loan and would generate additional money for FHA operations.
posted 11/30/12 11:21 AM  read complete story

States Take On Force-Placed Insurance
   Florida joins California and New York in a move to demand banks lower premiums they charge delinquent homeowners for force-placed hazard insurance. The three-state effort prompts the National Association of Insurance Commissioners (NAIC) to begin a probe into the practice.
posted 8/14/12 5:22 PM  read complete story

Flood Insurance Extended For 5 Years
   A day before the National Flood Insurance Program (NFIP) was to expire, Congress approves a 5-year extension to continue covering 5.6 million people living in flood zones and unable to obtain private insurance at reasonable rates.
posted 7/5/12 2:47 PM  read complete story

Flood Insurance In Political Quicksand
   Unless Congress acts by May 31, the National Flood Insurance Program will expire. Likely freezing sales of hundreds of thousands of homes in flood zones, the National Association of Realtors tells the Senate Banking Committee.
posted 5/9/12 5:08 PM  read complete story

(FLOODING) Rush To Flood Insurance Continuation
   Unless Congress extends the National Flood Insurance Program by May 31, the hurricane season will begin a day later and consumers will not be able to buy or renew polices or increase their coverage.
posted 4/23/10 11:58 AM  read complete story

Flood Insurance Reprieve
   In a move to keep talks alive on revamping the National Flood Insurance Program. Congress approves an extension of the program until Sept. 30, the end of the present federal spending year.
posted 3/13/09 1:04 PM  read complete story

State Farm Nixes Home Insurance
   Contending that insuring residential property is too costly without a rate hike, State Farm Insurance of Florida quits writing home insurance policies. The insurer has been refused an average 47.1% rate increase by the state
posted 1/27/09 4:13 PM  read complete story

Flood Insurance Back On Front Burner
   After languishing in the Senate Banking Committee since October, a proposal to reform the federal flood insurance program is bank on track, for the time being.Committee Chairman Christopher Dodd (D-CT) says he's determined to push the Senate version through the full Senate promptly. The House voted ...
posted 1/25/08 11:55 AM  read complete story