A proposed settlement has been reached in a class action lawsuit against JPMorgan Chase Bank NA, Chase Insurance Agency Inc., Assurant Inc., American Security Insurance Company, Standard Guaranty Insurance Company and Voyager Indemnity Insurance Company (“Chase Defendants”). If you were charged by the Chase Defendants under a hazard lender-placed insurance policy for residential property between Jan. 1, 2008 and Oct. 4, 2013, you may be eligible for a partial refund.
The Chase Bank force-placed insurance settlement will resolve a class action lawsuit (Saccoccio, et al. v. JPMorgan Chase Bank NA, et al.) that alleges that, when homeowners’ insurance policy lapsed or when a homeowner did not maintain a homeowners’ insurance policy that is acceptable to the mortgage lender, the Chase Defendants placed hazard insurance in a manner that allegedly provided them with an unauthorized benefit.
Chase denies the allegations but agreed to settle the class action lawsuit, which was preliminarily approved on Oct. 4, 2013.
Class Members of the Chase Bank force-placed insurance settlement includes all borrowers in the United States who, between Jan. 1, 2008 and Oct. 4, 2013, were charged by Chase Defendants as insureds or additional insureds under a hazard lender-placed insurance policy for residential property.
Class Members who paid the Chase Defendants the charged premium for the hazard lender-placed insurance policy will be eligible for a partial refund or credit in the amount of 12.5 percent of the net premium for the policy.
Class Members who were charged by the Chase Defendants but who have not paid for the policy are eligible for a reduction of what they currently owe.
Proof of Purchase
The only way to receive a partial refund or credit towards what you currently owe from the Chase Bank class action settlement is to send in a complete and accurate Claim Form to the Settlement Administrator within 60 days after the final settlement date.
Claim Form Deadline
Salvatore Saccoccio, et al. v. JPMorgan Chase Bank NA, et al., Case No. 1:13-cv-21107, in the U.S. District Court for the Southern District of Florida.
Saccoccio v. JPMorgan Chase
P.O. Box 35103
Seattle, WA 98124-5103
Adam M. Moskowitz
KOZYAK TROPIN & THROCKMORTON PA
Aaron S. Podhurst
PODHURST ORSECK, P.A.
Lance A. Harke
Howard M. Bushman, Esq.
HARKE CLASBY & BUSHMAN LLP
Robert M. Brochin
Brian M. Ercole
MORGAN LEWIS & BOCKIUS LLP
Frank G. Burt
JORDEN BURT LLP
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