Facts

Austin Belanger filed a putative class action against Roundpoint Mortgage Servicing Corp., Great American E&S Insurance Co., and Willis of Ohio Inc. dba Loan Protector Insurance Services, in relation to lender placed insurance policies through Great American E&S Insurance Co.

PLAINTIFF'S CONTENTIONS: Plaintiff contended that defendants engaged in unlawful and unconscionable profiteering and self-dealing in the purchase and placement of force placed insurance coverage. Plaintiff alleged breach of contract, breach of implied covenant of good faith and fair dealing, violation of the Florida Deceptive and Unfair Trade Practices Act, unjust enrichment, violations of the Truth in Lending Act, Violation of Rico, and tortious interference with a business relationship.

DEFENDANTS' CONTENTIONS: Defendants denied all allegations and asserted all relevant affirmative defenses.

Result

The parties agreed to a settlement in which defendants agreed to pay 6.75 percent of the net premium charged under the LPI policy, $406,865 for court costs and attorney fees, and $5,000 service award for named plaintiff.