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ARTICLE · 03 SEPTEMBER 2020

NAIC Continues Work On Climate Risk And Resilience Issues

Clyde & Co
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On July 31, 2020, the National Association of Insurance Commissioners ("NAIC") Climate Risk and Resilience (C) Working Group (the "Working Group")

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Jared Wilner
Jared Wilner
Vikram Sidhu
Vikram Sidhu
Megan Kuzniewski
Megan Kuzniewski
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On July 31, 2020, the National Association of Insurance Commissioners (“NAIC”) Climate Risk and Resilience (C) Working Group (the “Working Group”) held a virtual meeting during which it received updates from several groups on ongoing projects and heard presentations from several industry members regarding their respective approaches to responding to climate change and sustainable insurance products.

Notably, the Working Group received an update from the American Academy of Actuaries and NAIC Center for Insurance Policy and Research (“CIPR”) on their separate but complementary projects related to analyzing results of the NAIC Climate Risk Disclosure Survey.  The survey has been gathering information since 2010 about how insurers across all lines of business assess and manage risks related to climate change, including with respect to governance, risk management, climate modeling, stakeholder engagement, and the insurers' own greenhouse gas management.  CIPR

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