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Insurers to Disclose Climate Change Risk

The National Association of Insurance Commissioners (NAIC) today approved a groundbreaking mandatory requirement that insurance companies disclose to regulators and investors the financial risks they face from climate change, as well as actions the companies are taking to respond to those risks.

Citing concerns about “the potential impact of climate change on insurer solvency and insurance availability and affordability across all major categories of insurance,” the NAIC, comprised of the chief insurance regulatory officials of the 50 states, approved the requirement at its national meeting today in San Diego. It is the first mandatory climate risk disclosure requirement in the world.

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This entry was posted on March 20, 2009 by in climate change, corporate leadership, sustainable business and tagged , , , , .
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