After a series of regulatory and legal challenges to force-placed insurance, the Securities and Exchange Commission asked Assurant (AIZ), the leading specialty insurance carrier, to quantify the potential financial impact.
The correspondence, detailed in Assurant's second-quarter earnings report filed with the SEC and first reported by Bloomberg, dates back to mid-June. In it, the SEC asked Assurant to reveal its revenue from force-placed insurance in New York and California, the first two states to probe the industry. (See initial request here.) The letter also asked Assurant to justify its position that regulatory and legal threats "do not potentially have a material adverse effect individually or in the aggregate, on the