If you were charged as insureds or additional insureds under a lender-placed hazard insurance (“LPI”) policy, you may be entitled to a class action settlement award! Online claim filing is available…
In Diaz v. HSBC Bank USA, N.A., et al., plaintiffs alleged that when a borrower was required to have insurance for his or her property pursuant to a residential mortgage or home equity loan or line of credit, and evidence of acceptable coverage was not provided (for example, when the insurance policy did not exist or had lapsed), the HSBC Defendants would place insurance in a manner that enabled them to obtain an unauthorized benefit. Plaintiff also alleges that the way in which hazard LPI Policies were obtained and placed caused the rates and the amount of coverage to be excessive.
Awards will be made as follows:
- Settlement Class Members who paid for all or a portion of the charges for a hazard LPI Policy on their property and who submit a timely, valid and verified Claim Form will receive a Settlement Payment via check, in the amount of 13% of the Net Premium of the hazard LPI Policy.
- Settlement Class Members who were charged but did not pay for a hazard LPI Policy on their property and who submit a timely, valid and verified Claim Form will receive a Settlement Payment either via check or by account credit, at the HSBC Defendants’ sole option, in the amount of 6% of the Net Premium of the hazard LPI Policy.
Online claim filing is available…
Click here to see if you qualify for this settlement and fill out a claim form. It’s your money, what are you waiting for?!