Citi Among Cos. Facing NY Home Insurance Probe

Law360, New York (January 11, 2012, 2:29 PM EST) -- Citigroup Inc. and Assurant Inc. confirmed Wednesday that they are among several insurers and major banks reportedly being investigated by New York’s financial regulator over concerns that they fraudulently forced homeowners to take on overpriced insurance policies.

Assurant said in an emailed statement that it received requests from the New York Department of Financial Services for materials and information on its force-placed insurance program in New York. Citigroup wasn’t specific about the NYDFS requests but said it was working with the agency on the matter....
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