California is taking aim at the prices banks and insurers charge for force-placed home insurance, the state announced on Wednesday.

California Insurance Commissioner Dave Jones said that news reports of potential abuses in the force-placed market prompted him to launch a review how banks acquire insurance coverage on the homes of mortgage borrowers who allow their insurance to lapse.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.