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Disclosure Requirements Insurance Industry Corporate Governance

McDermott Will & Emery

US Insurers: Climate Change Disclosure Litigation and Data Calls Await

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The climate change landscape for insurers has changed dramatically this past month. There are multiple developments insurers should keep in mind – and not just the US Securities and Exchange Commission’s (SEC) recent adoption...more

Holland & Knight LLP

En Colombia se publica proyecto de documento técnico sobre asuntos ASG en el sector asegurador

Holland & Knight LLP on

La Superintendencia Financiera de Colombia (SFC) publicó para comentarios el Proyecto de Documento Técnico No. 01 de 2023, titulado "Administración de Riesgos y Oportunidades Climáticas para el Sector Asegurador", por medio...more

McDermott Will & Emery

Climate Change Regulatory Update for US Insurers: August 2022

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This year started off with a surge of enthusiasm among US proponents of increased climate-related financial risk disclosure by insurers and others: - Soon after the late-2021 Conference of the Parties (COP) 26 event in...more

Miles & Stockbridge P.C.

Where Does ESG-Related Disclosure Reporting Stand?

Our earlier blog post, “Companies Should Know Benefits and Risks of ESG Reporting,” provided an overview of the Environmental, Social and Governance (“ESG”) metrics, why these metrics are important to companies and...more

Eversheds Sutherland (US) LLP

The Task Force on Climate-related Financial Disclosures: Emerging climate change disclosure principles for the insurance industry

As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in the exposure of the insurance industry to the risks raised by climate change...more

McDermott Will & Emery

NAIC Continues to Refine Multiyear Work Plan to Expand Scrutiny of Holding Company Act Filings

In our report published on April 26, 2022, we discussed the New York Department of Financial Services’ (NYDFS) Circular Letter No. 5 in which it reminded the industry that acquiring less than 10% of an insurer’s voting...more

Eversheds Sutherland (US) LLP

The Task Force on Climate-related Financial Disclosures: Emerging climate change disclosure principles for the insurance industry

As concerns about the ecological and financial impacts of climate change have grown in recent years, so has the interest of insurance regulators in the exposure of the insurance industry to the risks raised by climate change...more

Bass, Berry & Sims PLC

A Glimpse into Required Climate Risk Disclosure Considerations by the SEC

On July 28, Securities and Exchange Commission (SEC) Chair Gary Gensler delivered remarks at the Principles for Responsible Investment’s Climate and Global Financial Markets Webinar. In his remarks, he offered a glimpse of...more

Latham & Watkins LLP

FCA Proposes New Climate-Related Disclosure Regime

Latham & Watkins LLP on

The FCA is proposing a disclosure regime for asset managers, life insurers, and pension providers. On 22 June 2021, the FCA published a Consultation Paper (CP21/17) on introducing climate-related financial disclosure...more

WilmerHale

Green Swan Conference Highlights Emerging Central Bank Consensus on Supervisory Approaches to Financial Risks Arising From Climate...

WilmerHale on

From June 2 to June 4, leading central bankers, policymakers, regulators, private sector CEOs, civil society members and academics gathered for the Green Swan 2021 Global Virtual Conference. The conference was co-hosted...more

Mitchell, Williams, Selig, Gates & Woodyard,...

Texas Implementation of Corporate Governance Annual Disclosure

In 2019, Texas enacted the corporate governance annual disclosure (“CGAD”) annual filing requirement for all Texas domestic insurers and HMOs. CGAD requires disclosure by insurers or insurance groups about the corporate...more

Locke Lord LLP

The Importance of Environmental, Social, and Corporate Governance

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Climate change has shown many investors, regulators, and lawmakers that it is a threat to financial stability. Environmental, social, and governance (ESG‎) has allowed everyone from regulators to consumers to take active...more

McDermott Will & Emery

Climate Change Risks and US Insurance Industry Regulation

In late November 2020, we published a high-level review of insurance regulatory developments relating to climate change, available here. In the six weeks since, regulators and industry participants on both sides of the...more

Eversheds Sutherland (US) LLP

New York Department of Financial Services sets expectations for insurers to incorporate climate change risk into governance, ERM,...

The New York Department of Financial Services (DFS) has issued Insurance Circular Letter No. 15 (2020) (Circular Letter) relating to the impact of climate change on insurers. Among other things, the Circular Letter outlines...more

Locke Lord LLP

Texas Department of Insurance Eliminates 2020 Corporate Governance Disclosure Requirement

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In the midst of the Coronavirus outbreak, the Texas Department of Insurance (TDI) has announced that it will not require insurers or HMOs to file a corporate governance annual disclosure this year. ...more

Carlton Fields

Insurers Keep Providing Corporate Governance Disclosures Without Complaint—Yet

Carlton Fields on

Following the financial crisis, the NAIC undertook a solvency modernization initiative (SMI) to update insurance regulators on insurance companies’ regulatory frameworks. One part of the SMI, meant to keep regulators informed...more

Saul Ewing LLP

PA Legislature Introduces Corporate Governance Annual Disclosure Statute to Be Effective in 2018 – What All Insurers Need to Know...

Saul Ewing LLP on

On October 3, 2017, the Pennsylvania legislature introduced legislation (HB 1848) to adopt a Pennsylvania-specific version of the NAIC Corporate Governance Annual Disclosure Model Act (“CGAD”) that would require insurers to...more

Locke Lord LLP

California Adopts NAIC Corporate Governance Annual Disclosure Requirements

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On Monday, August 17, 2015, California Assembly Bill 553 was signed by Governor Jerry Brown, and became immediately effective. AB 553 adopts much of the NAIC’s Model Corporate Governance Annual Disclosure Model Act, along...more

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