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Kansas City, MO (Nov. 16, 2021)

NAIC Responds to FIO Request for Information on Climate-Related Financial Risks

The National Association of Insurance Commissioners (NAIC) responds to the Federal Insurance Office’s (FIO) Request for Information (RFI) on the insurance sector and climate-related financial risks.  As the primary regulators of this sector, state insurance regulators are on the frontlines of climate-related natural catastrophe preparedness and response, protecting policyholders and maintaining well-functioning insurance markets.  This comment letter underscores how state insurance regulators have long been committed to monitoring and addressing how climate risks impact policyholders and the industry.

About the National Association of Insurance Commissioners

As part of our state-based system of insurance regulation in the United States, the National Association of Insurance Commissioners (NAIC) provides expertise, data, and analysis for insurance commissioners to effectively regulate the industry and protect consumers. The U.S. standard-setting organization is governed by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best practices, conduct peer reviews, and coordinate regulatory oversight. NAIC staff supports these efforts and represents the collective views of state regulators domestically and internationally.