In 2022, fifteen U.S. state insurance regulators implemented the National Association of Insurance Commissioners' (NAIC) Climate Risk Disclosure Survey, receiving responses from over 1500 companies representing over 80% of the U.S. insurance market. While some states have been administering a version of the Climate Risk Disclosure Survey for over a decade, 2021 marked the first iteration in which the questions were aligned with the prompts from the Task Force on Climate Related Financial Disclosures (TCFD) recommendations on climate risk reporting.
Learn more about the newly released report that reviewed and analyzed present findings from insurance company responses to the NAIC's 2021 TCFD - aligned Climate Risk Disclosure Surveys. This study represents the first comprehensive attempt to review and describe the contents of the insurance sector’s TCFD-aligned Climate Risk Disclosure Survey Responses. The purpose of the report is to encourage improvement in the comprehensiveness of climate-related disclosures in future years, and provide insights that may be valuable to insurance regulators and other stakeholders.
During this webinar, participants:
Examined the TCFD framework and survey to understand what insurance regulators implemented
Analyzed the results from the first round of climate risk disclosures
Evaluated tools that encourage improvement in the comprehensiveness of climate-related disclosures in future years
Gathered valuable insights from insurance regulators and other stakeholders as they review and evaluate TCFD reports
Assessed a model for other industries considering implementing similar forms of climate risk disclosures