climate risk

Insurance Regulators Commit to TCFD-Aligned Risk Disclosure Survey

Updated survey signals greater industry focus on climate risks

Two weeks ago the National Association of Insurance Commissioners (NAIC) took a significant step in the assessment and disclosure of climate-related financial risk by updating its insurer climate risk survey to reflect the recommended disclosures of Task Force on Climate-Related Financial Disclosures (TCFD). The TCFD recommendations are widely recognized as a leading international standard for …


Addressing Extreme Heat Risk with Insurance

New report assesses potential for innovative insurance solutions to support response and mitigation

This past summer, California suffered through a record heat wave with triple-digit temperatures throughout the state that helped spark the record-setting wildfires that left millions of acres burned, thousands of people displaced, dozens dead or missing, and millions breathing toxic air. But extreme heat is a climate killer in its own right, responsible for thousands …


U.S. state insurance regulators take step toward addressing climate risk

I’ve spent some time over the past two years studying the relationship between the insurance industry and climate change.  Yesterday there was an important development in this area: the National Association of Insurance Commissioners (NAIC) , the group of state regulators that collectively regulate insurance in the U.S., adopted for the first time a requirement that large insurers …