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Mintz

Congressional Democrats Press For Integration of Climate-Related Financial Risks in Insurance Regulation

Mintz on

On August 12, 2024, three Congressional Democrats (Casten (D-IL); Waters (D-CA); and Senator Whitehouse (D-RI)) sent a letter to the National Association of Insurance Commissioners (NAIC), inquiring as to “the status of the...more

Robins Kaplan LLP

California's Sustainable Insurance Strategy: Balancing Innovation with Industry Challenges

Robins Kaplan LLP on

In the fall of 2023, California's Department of Insurance unveiled the Sustainable Insurance Strategy, a comprehensive initiative aimed at reforming the state’s insurance market. The impetus for this strategy was driven by a...more

Mintz

Significant Rise in Global Climate Litigation

Mintz on

As recently reported by Columbia Law School's Sabin Center for Climate Change Law, “the number of climate-related cases filed globally each year has increased from a handful in the early 2000s to a few hundred annually since...more

ASKramer Law

Weather & Climate Risk Management Part IV: Taxation of Weather Risk Management Products

ASKramer Law on

Are there differences in the way in which weather derivatives and weather insurance are taxed? Yes. Weather insurance products, including parametric insurance, are taxed as insurance; and derivatives are taxed in accordance...more

McDermott Will & Emery

US Insurers: Climate Change Disclosure Litigation and Data Calls Await

McDermott Will & Emery on

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

Zelle  LLP

Climate Change Litigation: What Can Liability Insurers Expect in 2024?

Zelle LLP on

Climate litigation against companies is increasing and the stakes are getting higher. Last year saw more headline-making claims being brought against corporations and a slew of important decisions from courts in...more

Skadden, Arps, Slate, Meagher & Flom LLP

Climate Change and Its Undeniable Impact on Insurance: How To Respond?

Models that have historically been used by insurers to hedge risk were not designed to predict uncertain events such as natural disasters that may be exacerbated by climate change. This now leaves insurers overexposed to...more

Faegre Drinker Biddle & Reath LLP

Insurance Companies: ESG Investing in Real Estate

Historically, insurance companies have filled a vital role in the U.S. economy by investing heavily in various real estate assets. Such investments have spurred municipal infrastructure improvements and financed the...more

Eversheds Sutherland (US) LLP

NAIC report - 2021 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2021 Fall National Meeting from December 11 to 16 in San Diego, California. The meeting was held in a hybrid in-person and remote format due to the ongoing...more

Cozen O'Connor

Global Insurance Perspectives on Climate Change

Cozen O'Connor on

Evolving climate change data presents an ominous trend that has the potential to upend historical assumptions of actuarial science. For example, in the last several years global risk markets have weathered historically...more

Holland & Knight LLP

The U.S. Financial System and Climate Risk

Holland & Knight LLP on

The past several months have taught us a lot about the interplay between global risks and the economy. With lessons from the COVID-19 pandemic continuing to evolve, climate change has earned a new spotlight as an analogous...more

Bradley Arant Boult Cummings LLP

New York DFS Turns Up the Heat with Climate Change Bulletin

The New York Department of Financial Services (DFS) has issued a bulletin on climate change and financial risks to the financial institutions and insurance companies it supervises regarding the impact of climate change on...more

Dechert LLP

Flood Insurance, Commercial Real Estate and Climate Change

Dechert LLP on

Climate change is forcing the commercial real estate industry to re-think the effectiveness of flood insurance that developers, lenders and investors have relied on for decades. Rising sea levels and more extreme weather...more

Hogan Lovells

Combating climate change: NYDFS calls on insurance industry to help

Hogan Lovells on

On 26 July 2017, the New York Department of Financial Services (the “NYDFS”) issued Circular Letter No. 9 (2017) (the “Circular Letter”) and a corresponding press release, directed at all life, property/casualty, and health...more

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