QBE Gets 2nd Chance At Force-Placed-Insurance Coverage
By Cara Salvatore (September 21, 2018, 8:33 PM EDT) -- A New York state appeals court revived a suit by insurer QBE against other insurers over coverage for sprawling underlying litigation over lender-placed homeowners' insurance, saying a contract was misread to grant summary judgment.
The appellate court revived QBE Americas Inc.'s claims against Zurich American Insurance Co., Illinois National Insurance Co., Lexington Insurance Co., and Chartis over coverage for 50 civil suits and five state investigations regarding its role in Wells Fargo's widespread practice of allegedly forcing insurance on homeowners. QBE previously reached a $19 million settlement in civil litigation and has paid more to states.
A lower court said that...
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