Law360 (September 25, 2018, 9:01 PM EDT) -- A split Eleventh Circuit has affirmed the dismissal of homeowner class litigation over force-placed insurance, saying the litigation violated a doctrine that prohibits challenges to regulator-approved rates.
The appeals court on Monday affirmed, 2-1, the tossing of litigation filed by homeowners whose home insurance, mandated by their lenders, had lapsed and was then replaced by the companies with "force-placed insurance."
Named plaintiff Pankaj Patel's servicer, SLS, paid American Security Insurance Co. to monitor SLS's customers' accounts and insurance statuses for lapses, and after sending warning letters to Patel, ASIC force-placed a policy for him and received a fee from SLS, he says....
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