Chad Hemenway, National News Editor at Insurance Journal, has been covering the insurance industry since 2007. He reports on various topics including insurance trends, natural disasters, regulation, and litigation.
Recently, Hemenway highlighted several important developments in the insurance world. One story covers ongoing efforts by advocacy groups pushing for a federal court rule that would require disclosure of litigation funding. This move aims to bring more transparency to legal financing in insurance cases.
In another update, despite rising global instability, terrorism insurance prices remain low, creating a buyer’s market for coverage in this area. This trend is drawing attention as insurers and clients weigh risks against costs.
Hemenway also reported that Fannie Mae and Freddie Mac will accept actual cash value home insurance policies once again. This decision affects many homeowners and mortgage lenders, who rely on these programs for standard insurance requirements.
Lastly, he discussed discussions about whether a federal reinsurance backstop could help address challenges in the home insurance market. The concept is being considered as a potential solution to improve affordability and availability for homeowners.
You can find more stories and insights from Chad Hemenway on the Insurance Journal website or reach out to him via email at chemenway@wellsmedia.com.