Assurant Lawsuit News and Class Action Settlements

Assurant has faced numerous lawsuits over the years, resulting in several class action settlements.

One notable case was the 2010 class action lawsuit filed against Assurant, alleging that the company misled homeowners about the cost of flood insurance.

The lawsuit was settled in 2012 for $250 million, with affected policyholders receiving an average payout of $1,100.

Assurant has also faced lawsuits related to its practice of canceling policies for homeowners who had not yet purchased flood insurance.

The settlement returned approximately 90% of the commissions paid to HSBC in connection with forced-placed flood insurance policies.

This type of insurance is often overpriced, and homeowners are typically charged administrative fees by their mortgage company for acquiring the insurance.

Regulators have accused insurers of dramatically overcharging for forced-placed policies in the past.

HSBC was accused of ordering insurance policies with loss limits exceeding the outstanding mortgage balance.

The settlement would bar HSBC from ordering insurance for customers at a higher level than necessary when their policy lapsed.

This means homeowners may be able to avoid overpriced insurance policies in the future.

Insurance adjusters can face lawsuits from policyholders who feel their claims were mishandled.

In some cases, adjusters may be accused of breaching their fiduciary duty to act in the best interest of the policyholder.

A lawsuit against an insurance adjuster can result in significant financial penalties, including punitive damages.

HSBC recently settled a class action lawsuit regarding forced-placed insurance policies.

The lawsuit alleged that HSBC imposed force-placed insurance policies with loss limits exceeding the outstanding mortgage balance.

Forced-placed insurance policies are typically taken out by banks or other lenders on homes where the owner does not have sufficient or any coverage.

Regulators have accused insurers of dramatically overcharging for such policies.

The plaintiffs in the HSBC case alleged that the bank had a prior arrangement with an insurance company to send all of their forced-placed insurance contracts.

The insurance company allegedly sent a "kickback" or commission to the mortgage company for more forced-placed contracts.

The proposed settlement returns approximately 90% of the commissions that were paid to the HSBC defendants in connection with forced-placed flood insurance policies.

The deal would also bar HSBC from ordering insurance for customers at a higher level than necessary when their policy lapsed.

The landmark case of Bock v. Hansen significantly impacted the way insurance adjusters interact with policyholders.

In Bock v. Hansen, the court ruled that an insurance adjuster's failure to provide a written estimate of damages within 14 days of a request is a breach of contract.

Insurance adjusters are now more likely to provide written estimates in a timely manner to avoid lawsuits.

The Bock v. Hansen decision also established that policyholders can sue insurance adjusters for bad faith claims handling.

Policyholders can recover damages for emotional distress and other losses if they can prove the insurance adjuster acted in bad faith.

If you've received an insurance decision from Assurant that you disagree with, you have the right to appeal.

ERISA governs many group plans, including Assurant Employee Benefits disability policies, and has strict appeal procedures and deadlines. You'll need to file an internal or administrative appeal if your benefits are terminated or denied.

The time limit to file an appeal is usually only 180 days, so it's essential to act quickly. Under some policies, you may have a second, voluntary appeal.

Consulting with an experienced disability attorney can help you determine your legal rights and navigate the appeals process.

If you're dealing with an Assurant long-term disability insurance policy and need help navigating the process, there's a way to get expert guidance without breaking the bank.

You can get a free case review with an experienced Assurant disability attorney.

Nick A. Ortiz offers free case reviews for individuals who have a long-term disability insurance policy purchased from Assurant.

To take advantage of this offer, simply contact Ortiz Law Firm at (888) 321-8131.

The free case review can help you understand your options and determine the best course of action for your specific situation.

You can also visit the Ortiz Law Firm website to learn more about their services and how they can assist you with your Assurant long-term disability insurance claim.