Connecticut § 38a-23 Biennual report by commissioner re climate-related risks and climate change.

Connecticut Statutes

§ 38a-23 — Biennual report by commissioner re climate-related risks and climate change.

Connecticut·Title 38a Insurance·Ch. 697 General Provisions

(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

Free access — add to your briefcase to read the full text and ask questions with AI

(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.

Connecticut § 38a-23 (Biennual report by commissioner re climate-related risks and climate change.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.