Conn.-Based Insurers Now Required to Participate in NAIC Climate Risk Surveys

Jul 18th, 2013 | By | Category: Climate Change

Connecticut Insurance Commissioner Thomas Leonardi today announced that Connecticut-based insurance companies will now be required to complete the annual Climate Risk Survey that was initially adopted in 2009 as a voluntary report by the National Association of Insurance Commissioners (NAIC).

Connecticut has joined with four other states — California, Minnesota, New York and Washington — in making the survey response mandatory for licensed companies that are writing annual premiums of more than $100 million. In Connecticut, approximately 110 insurance companies meet that criteria and will be required to complete the survey.

For more on this story, visit: Conn.-Based Insurers Now Required to Participate in NAIC Climate Risk Surveys | Insurance Journal.

ALSO:

More than 100 insurance companies that do business in Connecticut are now required to explain how they manage the risk of climate change in a wide-ranging survey that asks about insurers’ investment portfolios, customer outreach and plans to assess and reduce emissions.

The new requirement was announced Wednesday by Connecticut Insurance Commissioner Thomas B. Leonardi, head of the state Insurance Department which regulates the industry.

For more on this story, visit: Connecticut Requires Insurers To Explain Climate Risk Policies | Insurance Capital.

Be Sociable, Share!
Tags: , , , ,

Leave a Comment