Climate Change and Global Warming (EX) Task Force
Dec. 5, 2008

The Climate Change and Global Warming (EX) Task Force met on Friday, December 5, 2008, at the Winter National Meeting in Grapevine, Texas.

During this National Meeting, the Task Force:

• Adopted a report from the Climate Risk Disclosure Working Group. The Working Group reported:
  • That the draft of the Climate Risk Disclosure Proposal was converted to an Insurer Climate Risk Disclosure Survey that consolidates the number of questions from nine to eight, makes all the responses public and is not associated with the annual statement.
  • The revised draft of the Insurer Climate Risk Disclosure Survey was exposed, with comments accepted until December 15, 2008;
  • That it met by conference call on December 3, 2008, at which time it:
    • Discussed the Insurer Climate Risk Disclosure Survey ;
    • Discussed the need for a guidance document with specific sample responses;
    • Discussed the need for a prototype that illustrated exactly how regulators and the public would gain access to the surveys, which will be filed beginning May 2010.
• Heard a presentation from Jackson Murphy from US Green Building Council (USGBC)-Green Building Standards on the environmental impact of building green. Topics included:
  • The impact of commercial and residential building on our environment ;
  • The environmental, lifestyle, and business advantages of building green;
  • Information on USGBC's educational offerings and advocacy efforts for green design, construction, and operations for professionals from all sectors of the building industry;
  • A discussion on systems for certifying building design, construction and operations such as the Leadership in Energy and Environmental Design (LEED) system;
  • A discussion on activities the NAIC could do to promote green building.
• Heard from a panel consisting of Keith Bell, Government Relations staff for Travelers Insurance Company (Travelers), Frank Nutter, Reinsurance Association of America, and Andrew Logan, CERES on the November 26, 2008 draft Insurer Climate Risk Disclosure Survey . All praised the Insurer Climate Risk Disclosure Survey as a compromise made in good faith. However, the panel emphasized the importance of states adopting the document without modifications to keep industry support and the need for a guidance document and annual assessments of the information.
• Discussed the November 26, 2008 draft Insurer Climate Risk Disclosure Survey . Jennifer Stegall of Wisconsin stated that the Insurer Climate Risk Disclosure Survey is a baseline public disclosure document that represents a collaborative effort to resolve difficult issues in the public's best interest. A joint conference call of the Climate Risk Disclosure Working Group and the Task Force will be held on December 17, 2008 to consider written comments on and possible adoption of the Insurer Climate Risk Disclosure Survey .
• Discussed and adopted the proposed 2009 Task Force Charges. The charges include:
  • Address recommendations and conclusions cited in the 2008 Task Force white paper The Potential Impact of Climate Change on Insurance Regulation ;
  • Sponsor a Climate Change and Global Warming Summit in 2009;

Action Items:

1. Adopted the Climate Risk Disclosure Working Group's report.
2. Exposed the November 26, 2008 draft of the Climate Risk Disclosure Survey.
3. Announced that a joint conference call of the Climate Risk Disclosure Working Group and the Task Force would be held on December 17, 2008 to consider written comments on and possible adoption of the Insurer Climate Risk Disclosure Survey .