New York state regulators and Assurant reached a settlement over “force-place” insurance policies. The insurer agreed to pay a $14 million civil penalty, while giving refunds to some borrowers.

The deal also creates new restrictions on the insurer’s relationship with banks and mortgage servicers.

Force-placed policies are typically taken out by banks or other lenders on homes where the owner does not have sufficient or any coverage. Regulators in the past have accused insurers of dramatically overcharging for such policies.