- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-06-27T23:42:00
The Treasury Department’s Federal Insurance Office (FIO) issued a report Tuesday on gaps in how states supervise and assess climate-related risks among insurers.
The 68-page report expands upon efforts to collect data on climate-related risk in the insurance industry, specifically at the state level. The report was conducted and released in response to an executive order by President Joe Biden in May 2021.
Some states already have policies in place to incorporate climate-related risks into state insurance regulation and supervision, but these efforts are “fragmented … and limited in several critical ways,” the Treasury said in a press release.
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