U.S. Insurance Regulators to Headline Global Panel on Climate Risks Nov. 3, During UNEP’s PSI COP26 Sustainable Insurance Series

The speakers are: David Altmaierthe NAIC President and Florida Insurance Commissioner; Kathleen BeranMaryland Insurance Commissioner; Ray Farmer, director of the South Carolina Department of Insurance; Mike CriddlerAnd Washington Insurance Commissioner Ricardo Larra, the California State Insurance Commissioner; And Andrew MooreNAIC Secretary, Treasurer, and Insurance Commissioner of Connecticut.

“When it comes to climate risk and resilience, there is critical work to be done in every state. It is a problem that state insurance regulators have prioritized for decades,” he explains. Mike Considine, CEO of NAIC. “Government insurance regulators have always been on the front lines of climate-related natural disaster preparedness and response, protecting policyholders and maintaining well-functioning insurance markets. We are very excited to be participating in this event to share our work and learn from others.”

State and NAIC insurance regulators have a long history focused on managing the risks facing the insurance industry and consumers. This includes addressing how natural hazards affect the solvency of the insured as well as the affordability and availability of insurance. In 2020, the organization and its members established the Climate and Resilience Task Force, recognizing the challenges, risks, and opportunities facing the entire insurance industry and the importance of engaging all nations on climate-related risk and resilience issues. Current and future efforts are based on decades of experience in managing the economic fallout of natural disasters. The nation’s insurance regulators are better able to address this multi-generational problem through teamwork and exchange of experience, both locally and internationally, to work toward a safer and more resilient future.

PSI’s agenda COP26 The Sustainable Insurance Chain agenda can be found here.

Register Committee: How are US insurance regulators taking action on climate change?

About NAIC

As part of our state-based system of insurance regulation in United StateNAIC provides expertise, data, and analysis to insurance commissioners to effectively regulate the industry and protect consumers. The American Standards Development Organization is governed by the top insurance regulators from the fifty states, and District of Columbia and five US regions. Through NAIC, state insurance regulators set standards and best practices, perform peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators locally and internationally. For more information, visit www.naic.org.

SOURCE National Association of Insurance Commissioners

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