Assurant Plunging On Legal Concerns (AIZ)

Assurant, Inc. AIZ is plummeting this Wednesday morning after a report was published that said Assurant used abusive practices known as force-placed insurance. Force-placed insurance is the practice of banks buying insurance on the homes of borrowers whose policies have lapsed. Assurant was named in the story. The article was published by the American Banker. At last check, shares were off $4.75 to $35.39, a loss of nearly 12%. Assurant, Inc. provides specialized insurance products and related services in North America and internationally.