California Department of Insurance announces $20.6 rate reduction for homeowners

SACRAMENTO, CA – February 1, 2013 – (RealEstateRama) — Insurance Commissioner Dave Jones announced today a 35 percent rate reduction for lender-placed (also called force-placed) homeowner insurance coverage offered by QBE Insurance Corporation. The rate reduction will result in an estimated $19.4 million savings to QBE policyholders, with an average savings of $626 per policyholder annually.