NAIC Ponders Climate Change

At the March 12th hearing titled “Climate Science: Empowering Our Response to Climate Change,” Wisconsin Insurance Commissioner Sean Dilweg spoke about the impact of climate change on the insurance sector. Testifying on behalf of the National Association of Insurance Commissioners (NAIC), Dilweg stated that insurers and consumers will be among the first to feel the effects of a shift in weather patterns.

“[This means that] the evolution of climate science is of keen interest to us as regulators, and is a key tool for the companies we regulate,” he told members of the U.S. Senate Committee on Commerce, Science and Transportation. “The NAIC has taken a forward-looking approach to developing assessment tools that identify the potential impact climate change has on insurers and how insurers are assessing those risks.”