Insurance commissioners establish new climate risk reporting for insurers

Insurance commissioners - Reporting

NAIC announced that 15 states have adopted a new way for these risks to be reported. The spring meeting of the National Association of Insurance Commissioners (NAIC) in Kansas City, Missouri, came with an announcement that 15 regulators have adopted a new standard for insurers to use to report risks related to climate change. The bipartisan initiative was led by California’s Ricardo Lara and Florida’s David Altmaier. This initiative led by the California and Florida insurance commissioners complemented the Internal Task Force on Climate-Related Financial Disclosures (TCFD). The standard of…

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