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Connecticut General Statutes Title 38A. Insurance § 38a-23. Biannual report by Commissioner re climate-related risks and climate change

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) Not later than April 1, 2022, and biennially thereafter until April 1, 2032, the Insurance Commissioner shall submit a report, in accordance with section 11-4a, to the joint standing committee of the General Assembly having cognizance of matters relating to insurance. The report shall disclose, for the preceding two calendar years, the Insurance Department's:

(1) Progress toward:

(A) Addressing climate-related risks, including, but not limited to, the department's progress toward integrating such risks into:

(i) Risk-based capital requirements;

(ii) Regular supervisory examinations; and

(iii) Own risk and solvency assessments; and

(B) Incorporating the reduced levels of emissions of greenhouse gas established in section 22a-200a into the department's regulatory and supervisory actions by, among other things, addressing the impacts of thermal coal, tar sands and Arctic oil and gas; and

(2) Regulatory and supervisory actions to bolster the resilience of insurers to the physical impacts of climate change.

(b) The commissioner may engage the services of third-party actuaries, professionals and specialists that the commissioner deems necessary to assist the commissioner in fulfilling the requirements of this section.

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Cite this article: FindLaw.com - Connecticut General Statutes Title 38A. Insurance § 38a-23. Biannual report by Commissioner re climate-related risks and climate change - last updated January 01, 2025 | https://codes.findlaw.com/ct/title-38a-insurance/ct-gen-st-sect-38a-23/

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