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...
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