Bank of America, QBE to settle insurance lawsuit for $228 millionCredit: Reuters/Mike Blake A Bank of America sign is shown on a building in downtown Los Angeles, California January 15, 2014. The deal reached in Miami federal court is the latest of several multi-million-dollar settlements reached over “force-placed” insurance, which is coverage that lenders arrange to protect their interest in a property when a homeowner’s insurance has lapsed.