Assurant (AIZ) Falls On Reports of Abusing Tactics For Force-Placed Insurance
Tweet
Share
E-mailGet Alerts AIZ Hot Sheet
Join SI Premium – FREE
Shares of Assurant Inc. (NYSE: AIZ) are under heavy pressure today following reports suggesting abuse practices for "force-placed" insurance policies.
According to an article in American Banker, when banks buy insurance on the homes of borrowers whose policies have lapsed, they get a great deal, but homeowners and investors do not. These "force-placed" insurance policies can cost 10 time more than regular policies for struggling homeowners.
Shares of AIZ are down 10 percent in mid-day trading, after trading down as much as 17 percent earlier.
According to an article in American Banker, when banks buy insurance on the homes of borrowers whose policies have lapsed, they get a great deal, but homeowners and investors do not. These "force-placed" insurance policies can cost 10 time more than regular policies for struggling homeowners.
Shares of AIZ are down 10 percent in mid-day trading, after trading down as much as 17 percent earlier.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Assurant (AIZ) PT Raised to $320 at Morgan Stanley
- Assurant Board of Directors Declares Quarterly Dividend of $0.88 per Common Share
- Assurant (AIZ) Declares $0.88 Quarterly Dividend; 1.3% Yield
Create E-mail Alert Related Categories
Insiders' Blog, Trader TalkSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
