Consumer and environmental groups said yesterday that the nation's insurance regulators should drop plans for a climate change impact model regulation that would allow carriers to keep data secret.
The National Association of Insurance Commissioners are better off taking no action rather than adopting a model regulation that does not publicly disclose all of an insurer's knowledge of climate change risk, said 12 groups.
The organizations, part of Ceres (the Center for Economic Justice and Natural Resources Defense Council), said they reject the NAIC's Aug. 15 proposal for climate risk disclosure because it would make portions of the disclosure confidential in deference to insurance carriers' concerns.
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