The other day, I blogged about calls for insurers to collect and disclose information on the personal characteristics of their clients and prospects, but that wasn't the only controversial data demand issued at the recent NAIC meeting. Indeed, the heat was also placed on carriers to document their climate change exposures. Is this just a lot of hot air by critics on a fishing expedition, or is this a serious search for the truth about how secure the industry is when it comes to global warming?
In essence, as reported by our own Dan Hays, the National Association of Insurance Commissioners Climate Change Task Force is being asked to acknowledge the exposures to insurer books of business and investment portfolios from climate change–whatever the cause–and to demand greater disclosure from carriers on how they intend to deal with the risk.
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