2024 Membership

Mission

The mission of the Climate and Resiliency (EX) Task Force is to serve as the coordinating NAIC body for discussion and engagement on climate-related risk and resiliency issues, including dialogue among state insurance regulators, industry, and other stakeholders.

CLIMATE RISK AND RESILIENCY RESOURCE CENTER

NATURAL CATASTROPHE RISK MITIGATION AND RESILIENCY RESOURCES

2025 Proposed Charges

The mission of the Climate and Resiliency (EX) Task Force is to serve as the coordinating NAIC body for discussion and engagement on climate-related risk and resiliency issues, including dialogue among state insurance regulators, industry, and other stakeholders.

Ongoing Support of NAIC Programs, Products, or Services

1. The Climate and Resiliency (EX) Task Force will:

1. Consider how state insurance departments that opt into the insurer’s climate risk disclosure reporting requirement review the information received.

2. Evaluate financial regulatory approaches to climate risk and resiliency in coordination with other relevant committees, task forces, and working groups, such as the International Insurance Relations (G) Committee, the Property and Casualty Insurance (C) Committee, the Financial Condition (E) Committee, and the Financial Stability (E) Task Force, including:

• 1. Evaluation of the use of modeling by carriers and their reinsurers concerning climate risk.

  2. Evaluation of how rating agencies incorporate climate risk into their analysis and governance.

  3. Evaluation of the potential solvency impact of insurers’ exposures, including both underwriting and investments, to climate-related risks.

  4. Evaluation and development of climate risk-related disclosure, stress testing, and scenario modeling.

3. Consider innovative insurer solutions to climate risk and resiliency, including:

1. Evaluation of how to apply technology and innovation to the mitigation of storm, wildfire, other climate risks, and earthquake.

2. Evaluation of insurance product innovation directed at reducing, managing, and mitigating climate risk, as well as closing protection gaps.

4. Identify adaptation, resilience, and mitigation issues and solutions related to the insurance industry.

5. Consider pre-disaster mitigation and resiliency and the role of state insurance regulators in resiliency.

6. Engage with the Center for Insurance Policy and Research (CIPR) Catastrophe Modeling Center of Excellence (COE) regarding climate-related risk and mitigation research and analysis.

2024 Adopted Charges

The Climate and Resiliency (EX) Task Force will:

1. Consider how state insurance departments that opt into the insurer’s climate risk disclosure reporting requirement review the information received.
2. Evaluate financial regulatory approaches to climate risk and resiliency in coordination with other relevant committees, task forces, and working groups, such as the International Insurance Relations (G) Committee, the Property and Casualty Insurance (C) Committee, the Financial Condition (E) Committee, and the Financial Stability (E) Task Force, including:
   1. Evaluation of the use of modeling by carriers and their reinsurers concerning climate risk.
   2. Evaluation of how rating agencies incorporate climate risk into their analysis and governance.
   3. Evaluation of the potential solvency impact of insurers’ exposures, including both underwriting and investments, to climate-related risks.
   4. Evaluation and development of climate risk-related disclosure, stress testing, and scenario modeling.
3. Consider innovative insurer solutions to climate risk and resiliency, including:
   1. Evaluation of how to apply technology and innovation to the mitigation of storm, wildfire, other climate risks, and earthquake.
   2. Evaluation of insurance product innovation directed at reducing, managing, and mitigating climate risk, as well as closing protection gaps.
4. Identify adaptation, resilience, and mitigation issues and solutions related to the insurance industry.
5. Consider pre-disaster mitigation and resiliency and the role of state insurance regulators in resiliency.
6. Engage with the Center for Insurance Policy and Research (CIPR) Catastrophe Modeling Center of Excellence (COE) regarding climate-related risk and mitigation research and analysis.

Workstreams

Pre-Disaster Mitigation

Workstream Lead: Director Barbara Richardson (AZ)

Members:

1. Commissioner Mark Fowler (AL)
2. Commissioner Michael Conway (CO)
3. George Bradner (CT)
4. Alexis Bakofsky (FL)
5. Commissioner Gordon I. Ito (HI)
6. Commissioner Timothy J. Temple (LA)
7. Peter Brickwedde (MN)
8. Connie VanSlyke (NE)
9. Gennady Stolyarov II (NV)
10. Superintendent Elizabeth Kelleher Dwyer (RI)
11. Acting Director Michael Wise (SC)
12. Stephanie Cope (TN)
13. Commissioner Mike Kreidler (WA)
14. Commissioner Nathan Houdek (WI)

Solvency

Workstream Lead: Commissioner Kathleen A. Birrane (MD)

Members: 

1. Commissioner Mark Fowler (AL)
2. George Bradner (CT)
3. Alexis Bakofsky (FL)
4. Acting Commissioner Rachel M. Davison (MA)
5. Danielle Smith (MO)
6. Rajesh Bhandula (NY)
7. Superintendent Elizabeth Kelleher Dwyer (RI)
8. Stephanie Cope (TN)
9. Commissioner Scott A. White (VA)
10. Commissioner Mike Kreidler (WA)
11. Amy Malm (WI)

Climate Risk Disclosure

Workstream Lead: Commissioner Andrew R. Stolfi (OR)

Members: 

1. Commissioner Mark Fowler (AL)
2. Mike Peterson (CA)
3. George Bradner (CT)
4. Commissioner Karima M. Woods (DC)
5. Commissioner Gary D. Anderson (MA)
6. Commissioner Kathleen A. Birrane (MD)
7. Peter Brickwedde (MN)
8. Harriette Resnick (NY)
9. Acting Commissioner Michael Humphreys (PA)
10. Superintendent Elizabeth Kelleher Dwyer (RI)
11. Stephanie Cope (TN)
12. Commissioner Scott A. White (VA)
13. Commissioner Kevin Gaffney (VT)
14. Commissioner Mike Kreidler (WA)

Innovation and Technology

Workstream Lead: Commissioner Jeff Rude (WY)

Members:

1. Commissioner Mark Fowler (AL)
2. Lucy Jabourian (CA)
3. Commissioner Michael Conway (CO)
4. George Bradner (CT)
5. Alexis Bakofsky (FL)
6. Commissioner Gordon I. Ito (HI)
7. Janelle Middlestead (ND)
8. Director Judith L. French (OH)
9. Superintendent Elizabeth Kelleher Dwyer (RI)
10. Stephanie Cope (TN)
11. Commissioner Mike Kreidler (WA)