Assurant execs put on notice

Assurant Inc., a specialty insurer, said that two of its employees received Wells notices from the Securities and Exchange Commission's division of enforcement. The two employees—Michael Steinman, senior vice president and chief actuary of Assurant Solutions/Assurant Specialty Property; and Dan Folse, vice president for risk management of Assurant Solutions/Assurant Specialty Property—each received the notice in the SEC's investigation of some loss mitigation insurance products. A Wells notice indicates the SEC staff is considering recommending that the regulator bring a civil enforcement action against individuals for violating federal securities laws. Assurant, a New York-based provider of specialized insurance products and related services said it continues to cooperate with the SEC in its investigation. Assurant has more than $20 billion in assets.