The information collected would concern only weather-related hazards and the damage they cause to dwellings, other structures and personal property. (Credit: Sergey Nivens/Shutterstock.com)
The United States Department of the Treasury's Federal Insurance Office (FIO) has proposed a rule that would allow the collection of climate-related financial risk data from property and casualty insurers.
General guidelines of the proposal released by the FIO state that both current and historical underwriting data should be reported for all of the 41,000-plus U.S. ZIP codes in which an insurer writes business. The data collected would be associated with homeowners' multi-peril lines of business, and include mobile homeowners', owner-occupied homeowners' and other homeowners' policy form types (HO-1, HO-2, HO-3, HO-5, HO-7 and HO-8).
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
