United Policyholders – Blog - Latest News and Information
United Policyholders warns that the Federal Housing Finance Agency has weakened a long‑standing rule requiring replacement‑cost value (RCV) insurance for roofs on homes backed by Fannie Mae and Freddie Mac. The revised regulation now permits only actual cash value (ACV) coverage for roofs while maintaining RCV for other home components, shifting repair cost gaps onto homeowners. The organization argues this short‑term affordability measure will increase financial exposure for policyholders and could undermine mortgage collateral. It calls for broader solutions such as a federal reinsurance program or the INSURE Act to lower premiums without sacrificing coverage.
United Policyholders helped draft a suite of six insurance reform bills for Hawaii after the 2023 Maui wildfires revealed systemic gaps in coverage. The legislation extends replacement‑cost and additional‑living‑expense timelines, mandates transparent mortgage‑proceeds handling, and eliminates inventory requirements for personal‑property...
