States Resist Federal Push To Ramp Up Scrutiny Of Insurers’ Climate Risks

November 24, 2021
State insurance regulators are resisting Biden administration plans to bolster federal oversight of insurers’ financial risks from climate change and are instead urging officials to preserve and bolster their ongoing efforts to set their own requirements for insurers to account for both physical and transition risks stemming from a warming climate. Responding to the Federal Insurance Office’s (FIO) recent request for information (RFI) on how to address climate risks, the National Association of Insurance Commissioners (NAIC), which represents the state...

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