Bank of America and Chase Investigated for Force-Placed Homeowners Insurance

Written by Tiffany Mitchell on January 14, 2012 – 7:44 pm

JPMorgan Chase and other major banks like Bank of America are being investigated for allegedly steering borrowers into overpriced home insurance policies illegally. The New York State financial services agency in charge of the investigation is focusing on a trend that was once used to protect banks from financial losses but now may be used simply to earn some extra cash.

Force-Placed Homeowners Insurance Rising

When a major lender provides a mortgage loan to a borrower, that borrower is required to purchase a homeowners insurance policy to ensure that the property is financially protected from damage or losses until it is paid off.

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Tags: Forceplaced Homeowners, Insurance
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Bank of America and Chase Investigated for Force-Placed Homeowners Insurance

Written by Steven Rivera on January 12, 2012 – 1:33 am

JPMorgan Chase and other major banks like Bank of America are being investigated for allegedly steering borrowers into overpriced home insurance policies illegally. The New York State financial services agency in charge of the investigation is focusing on a trend that was once used to protect banks from financial losses but now may be used simply to earn some extra cash.

Force-Placed Homeowners Insurance Rising

When a major lender provides a mortgage loan to a borrower, that borrower is required to purchase a homeowners insurance policy to ensure that the property is financially protected from damage or losses until it is paid off.

Read more…


Tags: Forceplaced Homeowners, Insurance
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Travel Insurance US

Written by Steven Rivera on January 7, 2012 – 7:55 pm

People from all parts of the world travel to the USA for varied reasons and usually reside there for a temporary period. Once the traveler is outside of his or her home country the health insurance bought purchased residing back home will be ineffective abroad. The US consulate alerts all international travelers visiting the USA of the importance of purchasing proper insurance coverage given the costly health care system.

Travel Insurance US are special health insurance plans designed by insurance providers in America for international travelers. While visiting the USA, you can purchase travel insurance plan before leaving the home country.

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Tags: Insurance
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FEMA Advises Texas Wildfire Survivors to Consider Flood Insurance

Written by Tiffany Mitchell on December 18, 2011 – 3:49 am

While flood insurance is typically not a common concern for homeowners facing the threat of wildfires, the Federal Emergency Management Agency (FEMA) has recommended some Texas residents add this type of coverage on their to-do list. Hazard mitigation specialists with the agency say that unexpected water-related risks come with Texas wildfires, elevating the need to purchase this additional coverage.

Texas Wildfires Elevate Risk of Water Damage

When homeowners think of a need for flood insurance, they typically assume they must live in a high-risk area near massive bodies of water like large lakes, rivers or oceans.

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Tags: Flood Insurance, Insurance
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Reliance Travel Medical Insurance

Written by Steven Rivera on December 7, 2011 – 11:27 am

Travelling to a foreign country with a proper medical insurance can help you spend your time abroad least worried about financial shortcomings in case of an emergency. There are travel medical insurance plans that can be useful for you while visiting a foreign country. To cope with the costly health care system you need a medical insurance like Reliance overseas travel medical insurance policy.

Reliance travel insurance plan can help you to pay the medical bills in case of an unexpected medical emergency. Reliance travel insurance is available with custom made plans called as Standard, Silver, Gold and Platinum plans with medical benefits varying as $50,000, $100,000, $250000 and $500000.

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Tags: Insurance, Medical Insurance, Travel Medical
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