Chase Says Force-Placed Policyholders Broke Contracts First

Law360, Chicago (May 13, 2013, 2:10 PM EDT) -- JPMorgan Chase Bank NA asked a Florida federal court Friday to toss a putative class action accusing it and Assurant Inc. of overcharging homeowners for force-placed insurance, saying the plaintiffs failed to maintain agreed-upon levels of insurance and the bank therefore had the right to buy additional coverage.

Chase and affiliate Chase Insurance Agency Inc. told the court that the plaintiffs did not dispute that they had materially breached their mortgage contracts by failing to maintain proof of continuous wind or hazard insurance coverage.

Those mortgage...
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