Connecticut Insurance Department Seeks Public Comment on Proposed Industry Bulletin on Guidance for Managing the Financial Risks of Climate Change
The Connecticut Insurance Department (CID) has opened a public comment period on a proposed bulletin which will provide guidance to insurers in how to manage the financial risks associated with climate change.The proposed bulletin details the Department’s expectations for domestic insurers and their taking a strategic approach to managing climate risks that considers both current and future risks and identifies the actions necessary to manage those risks. To review the proposed bulletin and submit comments online, click here.“The risks associated with climate change are significant. Insurers must adapt to these risks to ensure solvency. The Department plays a critical role in protecting consumers and will continue to work with insurers on climate change issues,” said Commissioner Andrew N. Mais. “I…