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:

1. 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.
   
   
2. 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.

Climate Change Risk Summit Planned for Dec. 9

The Climate Change and Global Warming (EX) Task Force will host a Climate Change Risk Summit to allow regulators, scientists, modelers, industry, and the general public to collaborate and explore climate-related topics. Topics will include the risk and opportunities of climate change on investments, evolving "green" insurance product offerings, and the latest on climate science and climate risk modeling. A session on transparency and disclosure of climate-related risks by insurers will include information on how one might complete the NAIC Climate Risk Disclosure Survey, due for the first time on May 1, 2010.