Advocates Laud Climate Disaster Provisions In California Insurance Rule

Public advocacy and other groups are applauding a new regulatory proposal by California’s insurance commissioner that aims to prevent future insurance crises resulting from climate disasters, among other threats, saying the first-of-its-kind plan is important but that it should still be further strengthened. “By requiring insurers to conduct climate scenario analysis and to develop and disclose climate-related transition plans that include climate mitigation as well as adaptation and resilience measures, the [California Department of Insurance (CDI)] can promote safety and...