Climate Change and Global Warming (EX) Task Force
Executive (EX) Committee
The mission of the Climate Change (EX) Task Force is to serve as coordinator of the NAIC analysis of the impact of climate change on insurance consumers, insurance providers and insurance regulators. The Task Force shall examine the implications of climate change on insurer solvency, the availability of affordable insurance coverage for the nation’s insurance consumers and its impact on insurance regulation. The Task Force shall coordinate its efforts with other NAIC standing committees and task forces so that no duplication of effort occurs.
Ongoing Support of NAIC Programs, Products, or Services:
- Address recommendations and conclusions cited in the 2008 Task Force white paper The Potential Impact of Climate Change on Insurance Regulation. Identify steps regulators need to take to assure that they are adequately monitoring insurers’ activities with regard to managing the financial condition of insurance and the performance of insurance markets to the benefit of the nation’s insurance consumers.
- Sponsor a Climate Change and Global Warming Summit in 2009 to identify and discuss best practices related to climate change in areas of consumer protection, increasing consumer confidence, solvency, identifying and addressing climate related risks and promoting a functioning competitive insurance market in regard to climate related risks.
Summary
of the December 9, 2009 Climate Change Risk Summit
The Climate
Change and Global Warming (EX) Task Force hosted a Climate Change
Risk Summit to allow regulators, scientists, modelers, industry,
and the public to collaborate and explore climate-related topics.
Topics included the risk and opportunities of climate change
on investments, evolving “green" insurance product
offerings, and the latest on climate science and climate risk
modeling.
The December
9, 2009 summit handout, located on the right side of this page,
includes presentations from:
- Evan Mills, Ph.D. (U.S.
Department of Energy’s Lawrence Berkeley National Laboratory)
- Eileen Shea,
Chief, Climate Services and Monitoring Division National Climatic
Data Center (National Oceanic and Atmospheric Association)
- Patricia Grossi, Ph.D., Senior
Research Scientist and Director of Research Publications (Risk
Management Solutions)
- Peter S.
Dailey, Ph.D., Director of Atmospheric Science (Applied
Insurance Research)
- Kyle Beatty, Senior Vice
President (Willis Re Inc.)
- Stephen G Bushnell, Senior
Director (Fireman's Fund Insurance Company)
- Lindene Patton, Chief Climate
Product Officer (Zurich Financial Services Group)
- Justin Horner, Transportation
Policy Analyst (National Resources Defense Council)
- Ross Hoffman, Ph.D., Vice
President, Research and Development Division and Chief Scientist (Atmospheric
and Environmental Research)
- Douglas Cogan, Director,
Climate Risk Management (RiskMetrics Inc.)
- Adam Cole, General Counsel (California
Department of Insurance)
The summit
also included a session on transparency and disclosure of climate-related
risks by insurers and featured information on how to complete
the NAIC Climate Risk Disclosure Survey. The survey is due for
the first time May 1, 2010.
IMPORTANT:
Please note the section for Committee Documents on the right
side of the page. The cover letter, the survey prototype and
a list of insurer groups sorted by state are available. Comments
on the disclosure documents are due Jan. 8, 2010 by 5 PM CT.
Send in Word format to Pam Simpson, psimpson@naic.org. |
