New York state regulators have proposed a sweeping set of rules to reform the force-placed insurance industry, in the latest sign that the government is taking steps to correct what critics call an abusive industry practice that overcharges homeowners.

The new rules would seek to lower rates, protect homeowners and eliminate the "kickback culture" in the force-placed industry, New York Gov. Andrew Cuomo announced Thursday. The rules are an attempt by Cuomo and the New York State Department of Financial Services to apply to the entire industry, including future entrants, a set of reforms it imposed through settlements with major force-placed insurance providers earlier this year.

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