SEC and the NAIC Propose Significant New Climate Reporting Requirements

On March 21, the Securities and Exchange Commission and the National Association of Insurance Commissioners both proposed significant revisions to climate disclosure rules. If adopted, these rules would require affected insurers to disclose climate-related risk assessments and management at the board and C-Suite level and, in some instances, Scope 3 greenhouse gas emissions.

See the Locke Lord QuickStudy: Insurers Hit with Two Climate Disclosure Developments on Same Day for a summary of the proposals and implications for insurers.

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