Chad Hemenway

New York

National News Editor at Insurance Journal

National News Editor, Insurance Journal Insurance News | Baseball | I should have been a farmer | Thoughts are mine.

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Articles

Trucordia Gains $1.3B Investment From Carlyle to Propel Growth

3 weeks ago | insurancejournal.com | Chad Hemenway

Trucordia today announced it will receive a $1.3 billion strategic investment from global investment firm Carlyle’s Global Credit platform. The investment values Trucordia at $5.6 billion, and it will reduce the company’s debt relative to equity while simplifying its governance structure by repurchasing units from existing minority investors.
No NOAA Large-Disaster Data to Hurt Insurers' Grasp of Secondary Perils, Says AM Best - Carrier Management

1 month ago | carriermanagement.com | Chad Hemenway

Insurance industry financial strength rating agency AM Best said that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers and may require the rethinking of some products. About two weeks ago NOAA announced it will “retire” a free, public database of climate and weather disasters that caused at least $1 billion in damage, “with no updates beyond calendar year 2024.” Past reports from 1980-2024 will be archived.
APCIA Says Record Shows ‘Minimal Complaints’ on Hurricane Milton, Helene Claims

1 month ago | claimsjournal.com | Chad Hemenway

The American Property Casualty Insurance Association chimed in to a recent Senate subcommittee hearing to defend the industry’s response to claims following hurricanes Milton and Helene. “The vast majority of claims from Hurricanes Milton and Helene have been settled, totaling more than $8 billion paid to policyholders,” said David A. Sampson, president and CEO of industry trade association APCIA.
No NOAA Large-Disaster Data to Hurt Insurers’ Grasp of Secondary Perils, Says AM Best

1 month ago | insurancejournal.com | Chad Hemenway

Insurance industry financial strength rating agency AM Best said today that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers and may require the rethinking of some products. About two weeks ago NOAA announced it will “retire” a free, public database of climate and weather disasters that caused at least $1 billion in damage, “with no updates beyond calendar year 2024.” Past reports from 1980-2024 will be archived.
Q1 Shows 'Clear' Signs of Commercial P/C Softening, Says CIAB - Carrier Management

1 month ago | carriermanagement.com | Chad Hemenway

According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes in the first quarter of 2025 rose by 4.2 percent—down 22 percent from the last three months of 2024 and a “clear” signal of soft market conditions. Though the first three months of 2025 was the 30th straight quarter of increases across all account sizes, medium-sized accounts slowed significantly, with an average Q1 increase of 3.6 percent.
APCIA: Record Shows ‘Minimal Complaints’ on Hurricane Milton, Helene Claims

1 month ago | insurancejournal.com | Chad Hemenway

The American Property Casualty Insurance Association (APCIA) chimed in to a recent Senate subcommittee hearing to defend the industry’s response to claims following hurricanes Milton and Helene. “The vast majority of claims from Hurricanes Milton and Helene have been settled, totaling more than $8 billion paid to policyholders,” said David A. Sampson, president and CEO of industry trade association APCIA.
APCIA: Record Shows ‘Minimal Complaints’ on Hurricane Milton, Helene Claims

1 month ago | insurancejournal.com | Chad Hemenway

The American Property Casualty Insurance Association (APCIA) chimed in to a recent Senate subcommittee hearing to defend the industry’s response to claims following hurricanes Milton and Helene. “The vast majority of claims from Hurricanes Milton and Helene have been settled, totaling more than $8 billion paid to policyholders,” said David A. Sampson, president and CEO of industry trade association APCIA.
Q1 Shows ‘Clear’ Signs of Commercial P/C Softening, Says CIAB

1 month ago | insurancejournal.com | Chad Hemenway

According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes in the first quarter 2025 rose by 4.2%—down 22% from the last three months of 2024 and a “clear” signal of soft market conditions. Though the first three months of 2025 was the 30th straight quarter of increases across all account sizes, medium-sized accounts slowed significantly, with an average Q1 increase of 3.6%.
U.S. House Bill Reintroduced to Rid Federal Insurance Office of Subpoena Power

1 month ago | carriermanagement.com | Chad Hemenway

Rep. Scott Fitzgerald on May 15 reintroduced a bill to eliminate the subpoena power of the Federal Insurance Office (FIO). The Insurance Data Protection Act was first presented by Fitzgerald, R-Wis., to the U.S. House of Representatives in September 2023. “FIO’s recent push to collect insurance underwriting data under the guise of climate risk is just another example of unelected bureaucrats advancing a political agenda that has no place in insurance regulation,” said Fitzgerald in a statement.
US House Bill Reintroduced to Rid Federal Insurance Office of Subpoena Power

1 month ago | insurancejournal.com | Chad Hemenway

Rep. Scott Fitzgerald today reintroduced a bill to eliminated the subpoena power of the Federal Insurance Office (FIO). The Insurance Data Protection Act was first presented by Fitzgerald, R-Wis., to the U.S. House of Representatives in September 2023.