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Our work in the insurance sector

Extreme storms, wildfires and floods have devastated communities across the nation, endangering lives and costing billions in losses. We work with the U.S. insurance industry and its regulators to proactively address the threat of climate change.

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Our approach

The insurance industry has a long history of advocating for common-sense precautions including seat belts, fire codes, and workplace safety standards. These practices keep people safe and lower the cost of disasters and accidents for businesses, individuals, and the government. As the physical effects of the climate crisis increasingly endanger people, businesses, and the broader economy, the insurance industry must do its part to mitigate risk and improve resilience. 

Through the Ceres Accelerator for Sustainable Capital Markets, we produce innovative research and advocate to the National Association of Insurance Commissioners, state insurance regulators, the Federal Insurance Office, individual insurers and trade associations. We are mobilizing the insurance industry to: 

  • Plan for the future, not for the past. Insurance companies need to reassess their risk exposures based on the latest climate data and share these findings with regulators and policyholders.  

  • Disclose climate risk exposure. Insurers should be transparent and provide consistent public reporting to better enable insurance regulators, investors, and policyholders to assess the materiality of climate change risk to a particular insurance company.  

  • Expand the financial protection of insurance to those whose needs are not currently met by the market. Insurers must make disaster insurance more affordable, accessible, transparent, people-centered, and just. 

  • Assess and manage exposure to carbon asset risk. Insurance companies have extensive exposure to risks associated with their investment holdings in and underwriting services for carbon-intensive companies, especially in the oil and gas and electric utility sectors. Insurers need to better assess and reduce these exposures through company engagement and by establishing and strengthening investment transition plans. 

  • Re-align investment portfolios to capture new opportunities  from the global transition to a low-carbon economy. Insurers should invest and make insurance products and services in clean energy solutions and corporations that are leading the way in energy efficiency, water conservation, and environmental responsibility. 

  • Develop and offer new products that help their customers reduce their risk exposure and support emerging and clean technology. 

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Explore our insurance reports


We equip insurance companies and regulators with the research and recommendations they need to mitigate climate risks and improve resilience.

Nov 20, 2024
Ceres 10-Point Plan for the Insurance Industry
Wildfire
Jun 18, 2024
Navigating Climate Risks: Progress and Challenges in U.S. Insurance Sector Disclosures
Town flooded
Aug 22, 2023
The Changing Climate for the Insurance Industry
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Our impact

As a result of our advocacy and engagements with insurance companies and regulators, we’re seeing real progress.

National Assessment of Climate-Related Exposures

The Federal Insurance Office issued a public notice on its intent to proceed with a data collection proposal to assist the first national assessment of climate-related exposures and their effects on insurance availability – a critical recommendation the Ceres Accelerator has engaged the Federal Insurance Office officer directly on since 2021. In March 2024 the Federal Insurance Office and the National Association of Insurance Commissioners issued a joint statement to move forward.

Task Force on Climate-related Financial Disclosure Reporting

The Ceres Accelerator assisted insurers with disclosure reporting by producing a series of trainings co-hosted with National Association of Insurance Commissioners aimed at insurance companies that would be completing their Task Force on Climate-related Financial Disclosure (TCFD) reports most for the first time.

Climate Disclosure Reporting

Through the leadership of 27 state regulators, almost 85% of insurers (about 500 companies) are required to submit Task Force on Climate-related Financial Disclosure (TCFD) climate disclosure reports.

Green Insurance Policies

California Insurance Commissioner Ricardo Lara created the first-ever consumer-oriented database of green insurance policies, in line with our recommendations.

National Association of Insurance Commissioners adopts the TCFD framework

The National Association of Insurance Commissioners adopted the Task Force on Climate-related Financial Disclosure (TCFD) framework in its annual Climate Risk Disclosure Survey and mandates it for most U.S. insurers.

Latest updates


Read the latest news and insights from our work in the insurance sector.

Nov 20, 2024
New guidance offers a roadmap for the U.S. insurance industry to build resilience amid increasing climate disasters
Jun 18, 2024
Major U.S. Insurers Make Progress on Climate Disclosures, but Significant Gaps Remain
Mar 11, 2024
Ceres Applauds Collaborative Treasury and Insurance Regulators’ Effort to Collect Critical Climate Risk Data
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Help us transform the insurance sector

Our work to accelerate the transition to a more just and sustainable economy depends on the generosity of our supporters. Your gift will help Ceres drive progress across every sector of the economy.

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Wildfire burns through a field

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