Lender-Placed Insurance

I can’t recall any decision in which a judge openly compared his job to that of a tarot card reader, but a federal jurist in Florida recently did exactly that—in the context of a class action over lender-placed insurance (LPI). The prediction at hand was whether the regional appellate tribunal, the Eleventh Circuit Court of Appeals, would accept or reject the filed-rate doctrine as a defense to LPI lawsuits.
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The most critical part of any class-action defense is often the narrative. That is because a judge who believes that consumers have been cheated will often permit a class action to go forward, even if the case is otherwise questionable. Nowhere is that tendency more evident than in the wave of lender-placed insurance (“LPI”) lawsuits currently sweeping the country.
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