At the Summer 2023 National Meeting of the US National Association of Insurance Commissioners (“NAIC”), a number of sessions were focused on environmental, social and governance (“ESG”) initiatives, led by the Special (EX) Committee on Race and Insurance (the “R&I Committee”) and the Climate and Resiliency (EX) Task Force (“C&R
The National Credit Union Administration (“NCUA”) has requested comment (the “RFI”) on how climate and natural disaster risks may affect federally insured credit unions, their members, and the National Credit Union Share Insurance Fund. The RFI indicates that the NCUA may use the results of the RFI to develop regulatory and
At the Spring 2023 National Meeting of the US National Association of Insurance Commissioners (“NAIC”), a number of sessions were held focused on environmental, social and governance (“ESG”) initiatives, led by the Special (EX) Committee on Race and Insurance (the “R&I Committee”) and the Climate and Resiliency (EX) Task Force (“C&R Task Force”), both of
At the Summer 2022 National Meeting of the National Association of Insurance Commissioners (“NAIC”), the Innovation, Cybersecurity, and Technology (H) Committee and its Big Data and Artificial Intelligence (H) Working Group held their first Collaboration Forum session on the topic of algorithmic bias. The Collaboration Forum was established at the Spring National Meeting as a
On August 11, 2022, the Climate and Resiliency (EX) Task Force (“C&R Task Force”) and the Special (EX) Committee on Race and Insurance (“R&I Committee”) met at the Summer 2022 National Meeting of the National Association of Insurance Commissioners (“NAIC”). While the C&R Task Force and R&I Committee did not
On 29 June 2022, the Brazilian Superintendence of Private Insurance (“SUSEP”) published Regulation No. 666/2022, setting forth sustainability requirements applicable to the Brazilian insurance sector. Its goal is to establish guidelines for management of risks that are directly related to ESG policies of insurance and capitalization companies, local reinsurers and pension funds.Continue Reading Brazilian insurance regulator publishes guidelines on sustainability requirements for the insurance sector
On March 25, 2021, the New York Department of Financial Services (NYDFS) issued for public comment “Proposed Guidance for New York Domestic Insurers on Managing the Financial Risks of Climate Change” (Guidance). Comments must be submitted by 11:59 p.m. EDT on Wednesday, June 23, 2021, and must be made