Assessing insurance regulation and supervision of climate-related financial risk

Описание: Brookings Metro will host an event discussing ongoing work to integrate climate-related risks into insurance supervision and regulation. Graham Steele, assistant secretary for financial institutions, will share details from the just-released Treasury Federal Insurance Office’s climate report which considers the climate-related risks faced by the insurance industry and highlights current efforts by the National Association of Insurance Commissioners and some state regulators to address those risks while also providing recommendations to better integrate climate-related considerations within the context of U.S. insurance regulation. A panel will follow to discuss reactions to the report and implications for current efforts at the U.S. state level.

Assistant Secretary Steele will highlight separate work that Treasury’s Federal Insurance Office is doing to assess the potential for major disruptions of insurance coverage in regions of the country that are particularly vulnerable to the impacts of climate change. To support this work, FIO issued a proposed data collection from certain homeowners’ insurers on historical and current underwriting data at a ZIP Code level. This proposed data collection would provide consistent, granular, and comparable insurance data to help assess the challenges with insurance availability in certain areas of the country.

This event will be open for in-person attendance or to watch online. Online viewers can submit questions by emailing [email protected] or tweeting to @BrookingsMetro using the hashtag #ClimateFinancialRisk.