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ARTICLE · 04 OCTOBER 2024

CBI Insurance Newsletter – September 2024

The Central Bank of Ireland (CBI) recently published its insurance newsletter for September 2024. The main points of interest were...

IrelandInsurance

The Central Bank of Ireland (CBI) recently published its insurance newsletter for September 2024. The main points of interest were:

Thematic Review of Climate Change Risk Materiality Assessments

Climate change risk is a continuing strategic priority for the CBI, and on foot of this the CBI recently completed a thematic review of the materiality assessment of 29 (re)insurance firms. The CBI noted that the majority of firms have made efforts to meet the CBI's Guidance for (Re)Insurance Undertakings on Climate Change Risk (the Climate Change Guidance) and acknowledged that there is no "one size fits all" approach and that compliance with the Climate Change Guidance will be an iterative process as firms build capacity, expertise and experience.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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