Forced-placed insurance is yet another way the banks make money. It may be good practice for home owners to automatically at the time of renewal or when switching insurance carriers to forward to their lender the binder or proof their policy remains in force. After you forward to your lender you must follow up with a call and confirm they received your proof of insurance. Be certain to get the name of the person you're speaking with as well as their ID number and department.
http://www.nytimes.com/2012/01/11/business/big-banks-facing-inquiry-over-possible-insurance-fraud.html?_r=2&smid=tw-nytmetro&seid=auto
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interesting article
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