Democrats Press Insurance Regulators to Integrate Climate Risks

Three congressional Democrats pushed state-level insurance regulators to show how they’re implementing recommendations from the Treasury Department to integrate climate-change risk into insurance standards.

The federal “recommendations represent a helpful roadmap” for state insurance regulators to follow, Reps. Sean Casten of Illinois and Maxine Waters of California, as well as Sen. Sheldon Whitehouse of Rhode Island, said in a letter sent Monday to the National Association of Insurance Commissioners.

Unlike banks, which are regulated on the federal and state level, insurance companies in the US are overseen by a patchwork of state regulators, often called insurance commissioners. NAIC is an ...