Bankers and specialty insurance executives defended their force-placed insurance practices and dodged questions about alleged industry kickbacks and price gouging at a private but well-attended "working group" hosted by regulators Thursday.

The meeting — which was closed to member of the press and public — comes as the Federal Housing Finance Agency is considering its options for dealing with force-placed insurance, a type of backup property insurance that banks are supposed to buy to protect mortgage investors' stake in the homes of uninsured borrowers.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access