State Officials To Collect Insurance Data For National Climate Risk Review

Federal insurance officials are relying on state insurance regulators to collect data from large insurance companies about climate-related financial risks in the sector, with the goal of using the information to develop a nationwide risk assessment that could inform climate adaptation efforts. The decision to rely on state officials acknowledges their role as the primary regulators of the insurance sector, though the Treasury Department’s Federal Insurance Office (FIO) has been seeking to bring greater attention to burgeoning climate risks facing...