News & Analysis as of

Disclosure Requirements Climate Change Insurance Industry

McDermott Will & Emery

Canaries and coal mines, US insurers and climate change

McDermott Will & Emery on

Canaries are the most familiar of “sentinel species” – animals (and plants) that can alert us to threats to human health and the environment. Those who know their mining history also know that canaries were first used in...more

Pullman & Comley, LLC

The Impact of Natural Disasters on Municipal Financing and Disclosure

Pullman & Comley, LLC on

The wildfires in Southern California earlier this year were another sobering reminder of the devastating impact of natural disasters on local communities, and Connecticut is certainly not immune....more

Hinshaw & Culbertson - Insights for Insurers

Sustainability Recalibration: What Insurers and Policyholders Should Know About ESG Under Trump 2.0 Part 2

Environmental, social, and governance (ESG) criteria or standards or sustainability issues have impacted all sectors of society, including corporate and professional policyholders and their risk managers, insurance...more

Clark Hill PLC

New York Enacts Parametric Insurance Law

Clark Hill PLC on

On Dec. 13, 2024, New York Governor Kathy Hochul signed a bill integrating parametric insurance into the state’s existing legal framework for insurance products under the New York Insurance Law (“NYIL”). Assembly Bill A10344...more

McDermott Will & Emery

Insurers: Climate Risk Disclosures Today, Scenario Testing Tomorrow

For more than a decade US insurance regulators have required certain insurers to file climate risk disclosure reports. In recent years, financial regulators in Europe have begun climate change scenario testing while still...more

McDermott Will & Emery

US Insurers: Climate Change Disclosure Litigation and Data Calls Await

McDermott Will & Emery on

The climate change landscape for insurers has changed dramatically this past month. There are multiple developments insurers should keep in mind – and not just the US Securities and Exchange Commission’s (SEC) recent adoption...more

J.S. Held

2024 J.S. Held Global Risk Report: Weather and Natural Disasters

J.S. Held on

The growing frequency and ferocity of major weather events and natural disasters have pushed the climate change discussion to the forefront of governments and businesses. Droughts, floods, wildfires, earthquakes, and volcanic...more

Troutman Pepper Locke

Colorado Joins NAIC Climate Risk Disclosure Group

Troutman Pepper Locke on

Earlier this month, Colorado Governor Jared Polis (D) signed S.B. 16, mandating the Colorado Insurance Commissioner to adopt rules such that insurance carriers licensed in Colorado participate in the NAIC Climate Risk...more

Holland & Knight LLP

En Colombia se publica proyecto de documento técnico sobre asuntos ASG en el sector asegurador

Holland & Knight LLP on

La Superintendencia Financiera de Colombia (SFC) publicó para comentarios el Proyecto de Documento Técnico No. 01 de 2023, titulado "Administración de Riesgos y Oportunidades Climáticas para el Sector Asegurador", por medio...more

Troutman Pepper Locke

Illinois to Participate in the Climate Risk Disclosure Survey

Troutman Pepper Locke on

On October 13, 2022, the Illinois Department of Insurance (the “Department”) issued Company Bulletin 2022-16 (the “Bulletin”). The Bulletin is addressed to all domestic insurers and advises that the Department will now...more

Mitchell, Williams, Selig, Gates & Woodyard,...

National Association of Insurance Commissioners (NAIC) 2022 Summer Meeting Summary

The Mitchell Williams Insurance Regulatory team of lawyers recently attended the National Association of Insurance Commissioners (NAIC) 2022 Summer National Meeting which was held in Portland, Oregon on August 9-13th. We have...more

McDermott Will & Emery

Climate Change Regulatory Update for US Insurers: August 2022

McDermott Will & Emery on

This year started off with a surge of enthusiasm among US proponents of increased climate-related financial risk disclosure by insurers and others: - Soon after the late-2021 Conference of the Parties (COP) 26 event in...more

Miles & Stockbridge P.C.

Where Does ESG-Related Disclosure Reporting Stand?

Our earlier blog post, “Companies Should Know Benefits and Risks of ESG Reporting,” provided an overview of the Environmental, Social and Governance (“ESG”) metrics, why these metrics are important to companies and...more

Eversheds Sutherland (US) LLP

The Task Force on Climate-related Financial Disclosures: Emerging climate change disclosure principles for the insurance industry

As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in the exposure of the insurance industry to the risks raised by climate change...more

McDermott Will & Emery

Climate Change Regulatory Update for US Insurers: April 2022

McDermott Will & Emery on

If anyone believed that the US Securities and Exchange Commission’s (SEC) release of proposed climate change-related disclosure requirements last month might have been an isolated matter, of immediate importance only to the...more

McDermott Will & Emery

Climate Change Regulatory Update for US Insurers

After a variety of promises concerning climate change-related regulatory development activity last year, forward movement has been relatively slow. The leading exception has been the New York Department of Financial Services...more

McDermott Will & Emery

[Webinar] Risks, Opportunities, and Disclosure in the Era of Climate Change - April 27th, 12:00 pm - 1:00 pm EDT

McDermott Will & Emery on

The US Securities and Exchange Commission’s (SEC) recently proposed landmark climate-related disclosure rules draw attention to a broad scientific consensus that to avert catastrophic consequences from climate change, the...more

Eversheds Sutherland (US) LLP

The Task Force on Climate-related Financial Disclosures: Emerging climate change disclosure principles for the insurance industry

As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in the exposure of the insurance industry to the risks raised by climate change...more

Latham & Watkins LLP

President Biden Presents a Roadmap for Mitigating the Climate Crisis

Latham & Watkins LLP on

A new national strategy report aims to combat climate-related risks to the US financial system. On October 14, 2021, the Biden Administration issued “A Roadmap to Build a Climate-Resilient Economy” (the Roadmap), a...more

Bass, Berry & Sims PLC

A Glimpse into Required Climate Risk Disclosure Considerations by the SEC

On July 28, Securities and Exchange Commission (SEC) Chair Gary Gensler delivered remarks at the Principles for Responsible Investment’s Climate and Global Financial Markets Webinar. In his remarks, he offered a glimpse of...more

Latham & Watkins LLP

FCA Proposes New Climate-Related Disclosure Regime

Latham & Watkins LLP on

The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers. On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Securities and Exchange Commission Request for Public Input on Climate Change Disclosures: International Capital Market...

The International Capital Market Association (“ICMA”) submitted June 15th comments to the Securities and Exchange Commission (“SEC”) in response to a request for public input on current potential regulation of climate change...more

WilmerHale

Green Swan Conference Highlights Emerging Central Bank Consensus on Supervisory Approaches to Financial Risks Arising From Climate...

WilmerHale on

From June 2 to June 4, leading central bankers, policymakers, regulators, private sector CEOs, civil society members and academics gathered for the Green Swan 2021 Global Virtual Conference. The conference was co-hosted...more

Lathrop GPM

Federal Government and Private Sector Climate Change Developments

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The implications of climate change have gone from an esoteric topic that a very limited number of companies focused upon just a few years ago to one that is becoming more mainstream by the day. President Biden campaigned on...more

Troutman Pepper Locke

The Importance of Environmental, Social, and Corporate Governance

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Climate change has shown many investors, regulators, and lawmakers that it is a threat to financial stability. Environmental, social, and governance (ESG‎) has allowed everyone from regulators to consumers to take active...more

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