News & Analysis as of

Environmental Policies Insurance Industry Climate Change

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

Driving Loss Reduction Through State-Created Residual Insurance Markets: Environmental Defense Fund/Cornell University Report

The Environmental Defense Fund (“EDF”) and Cornell University issued a report titled: Driving Loss Reduction Through State-Created Residual Insurance Markets (“Report”)....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

Kennedys

California state senators propose Senate Bill 222, seeking to create a path for insurers to recoup costs of the LA Wildfires from...

Kennedys on

On January 27, 2025, California state senators introduced Senate Bill 222 as part of the Affordable Insurance and Climate Recovery Act, aimed to improve insurance affordability in the state. The Bill, if signed into law,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Climate Change and Its Undeniable Impact on Insurance: How To Respond?

Models that have historically been used by insurers to hedge risk were not designed to predict uncertain events such as natural disasters that may be exacerbated by climate change. This now leaves insurers overexposed to...more

Hinshaw & Culbertson - Insights for Insurers

DOJ and EPA Announce Comprehensive Strategy to Hand Out Environmental Justice Nationwide

The grip of the "all of government" approach to sustainability continues to tighten. Via a May 5, 2022 memorandum from the Associate Attorney General of the United States, the Department of Justice (DOJ) and the U.S....more

McDermott Will & Schulte

Insurance Industry Expected to Play Major Role in Addressing Climate Change Following COP26

McDermott Will & Schulte on

The insurance industry was front and center before, during and after the first days of the United Nations’ (UN) climate change summit, Conference of the Parties (COP26), in Glasgow, Scotland, which concluded earlier this...more

Holland & Knight LLP

The Financial Sector and Government Contractors in the Environmental Bull's-Eye

Holland & Knight LLP on

The Biden Administration on May 20, 2021, issued its latest and long-awaited Executive Order (EO) on climate-related financial risk. This EO reflects how the administration is continuing to take a "whole of government"...more

Lathrop GPM

Federal Government and Private Sector Climate Change Developments

Lathrop GPM on

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

Eversheds Sutherland (US) LLP

New York Department of Financial Services sets expectations for insurers to incorporate climate change risk into governance, ERM,...

The New York Department of Financial Services (DFS) has issued Insurance Circular Letter No. 15 (2020) (Circular Letter) relating to the impact of climate change on insurers. Among other things, the Circular Letter outlines...more

Zelle  LLP

Climate Change for Insurers: When Politics Fail, Flood the Courts

Zelle LLP on

This article follows on from a series of previous articles seeking to address climate change litigation in the context of insurance and reinsurance. Three different, but important, decisions in December 2019 have once again...more

Nossaman LLP

[Webinar] Handling the Heat: The Evolving Nature of Washington's Wildfires - October 8th, 11:00 am PT

Nossaman LLP on

Please join Nossaman Environment & Land Use Partner Linda Larson of the Firm’s Seattle office and Nossaman Water Practice Group Associate Willis Hon for "Handling the Heat: The Evolving Nature of Washington's Wildfires," a...more

Hogan Lovells

Combating climate change: NYDFS calls on insurance industry to help

Hogan Lovells on

On 26 July 2017, the New York Department of Financial Services (the “NYDFS”) issued Circular Letter No. 9 (2017) (the “Circular Letter”) and a corresponding press release, directed at all life, property/casualty, and health...more

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