US Lawmakers Launch Probe Into Key Insurance Rating Firm in Florida

Photographer: Tristan Wheelock/Bloomberg Three US senators opened an inquiry into insurance ratings firm Demotech and whether its assessments may be exposing Fannie Mae and Freddie Mac — and ultimately taxpayers — to growing risks tied to climate-driven insurer failures. In a letter sent Tuesday to Fannie Mae acting Chief Executive Officer Peter Akwaboah and Freddie Mac CEO Kenny Smith, the three Democratic lawmakers questioned why the government-backed mortgage giants continue to accept Demotech ratings ...