In a move that could spark the biggest waste of time and money since the federal government’s $787 billion stimu-pork package, the National Association of Insurance Commissioners (NAIC) is requiring insurance companies to disclose “the financial risks they face from climate change, as well as actions the companies are taking to respond to those risks.”
“Climate change will have huge impacts on the insurance industry and we need better information on how insurers are responding to the challenge,” says Pennsylvania Insurance Commissioner Joel Ario, who chairs the NAIC Climate Change and Global Warming Task Force.
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