US lawmakers launch probe into insurance rating firm in Florida

(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.Processing ContentIn 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 as sufficien ...