New Rules Spotlight Insurers' Climate Change Risks

Law360, New York (March 17, 2009, 12:00 AM EDT) -- As costly tropical storms, flooding and other dangers become increasingly common in a warming world, regulators are updating reporting requirements for insurance companies to reflect the financial risks associated with climate change.

Under new disclosure guidelines announced Tuesday by the National Association of Insurance Commissioners, insurance companies with annual premiums greater than $500 million are required to report to state regulators their financial exposure tied to climate change as well as any efforts taken to reduce those risks.

Beginning May 1, 2010, eligible insurance companies will...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.