Insurance Risks Examined in Treasury’s Push on Climate Change

摘要

Treasury Secretary Janet Yellen says assessing the threat climate change poses to insurers will be key to getting a handle on potential disruptions to the U.S. financial system.1. Treasury’s Federal Insurance Office is seeking public comments on how a warming planet will affect the insurance industry, according to a Tuesday statement2. As a response to President Joe Biden’s May executive order on climate change, FIO will look at climate-related gaps in supervising and regulating insurers and will assess possibledisruptions in private insurance that could be caused by disasters3. “We are now in a situation where climate change is an existential risk to our future economy and way of life,” Yellen says in statement, calling the FIO effort an “important step” infiguring out insurance sector risks.