NY State Department of Financial Services v.
Balboa Insurance Co./Meritplan Insurance Co.
Restitution Program Website
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Welcome to the New York State Department of Financial Services v. Balboa Insurance Co./Meritplan Insurance Co. Settlement Restitution Program Website

Pursuant to a settlement between the New York State Department of Financial Services and Balboa Insurance Company ("BIC"), Meritplan Insurance Company ("MIC"), QBE Financial Institution Risk Services, Inc. and QBE Insurance Corporation concerning force-placed insurance policies issued in New York State by BIC and MIC you may be entitled to a refund for some of the charges you incurred in connection with your force-placed insurance.

Force-placed insurance is insurance taken out by your bank, lender or mortgage servicer when you do not maintain the insurance required by the terms of your mortgage. This can occur if you allow your homeowners' insurance policy to lapse. On some occasions, homeowners have been force-placed erroneously. In many instances, the premiums for the force-placed coverage are far in excess of the premiums you were charged for your voluntary homeowners' insurance. Force-placed insurance is also sometimes referred to as lender-placed insurance.

To qualify for a refund, you must have been force-placed by BIC or MIC, on or after January 1, 2008 and meet the eligibility criteria for one of the following three categories of claimants:

1. You defaulted on your mortgage or were foreclosed upon because of the forced placement.

2. You were charged for force-placed insurance at an amount higher than the amount permitted by your
mortgage.

3. You had voluntary homeowner's coverage in effect or were charged commercial force-placed insurance rates on a one-to-four family residence.

Please note that you are not eligible if the force-placed insurance policies for which you were charged were cancelled and if the full charge for the force-placed insurance premium was refunded or credited back to you or your escrow account with your lender.

TO BE ELIGIBLE YOUR CLAIM FORM MUST BE COMPLETED AND POSTMARKED NO LATER THAN AUGUST 26, 2013 AND MAILED TO:

New York State Department Of Financial Services/Balboa/Meritplan
Settlement Restitution Program
P.O. Box 808061
Petaluma, CA 94975-8061

You may contact the Settlement Administrator at:
1-888-283-2816

Although the information in this website is intended to assist you, it does not replace the information contained in the Consent Order, which can be downloaded from this website.