Climate Change Risk Information Disclosure, Insurance, the Private Sector, and the Role of Government

This white paper makes recommendations about how risks disclosures can be used by regulators to ensure that insurance is priced to consider future climate risks, and that insurance is sending accurate price signals about the need to adapt.

The report captures input provided during a March convening on the same subject that was co-sponsored by the University of North Carolina School of Law Center for Law, Environment, Adaptation and Resources (CLEAR), the Georgetown Climate Center, the Emmett Institute on Climate Change and the Environment, and the Cooperative Institute for Climate and Satellites - North Carolina.

The workshop included detailed presentations about the actions of the federal government relating to climate change adaptation, the availability and quality of data concerning climate change impacts, the use of such data in predicting and lessening climate change impacts in the private sector, what climate risk data might be helpful to the private sector, how climate change messaging is perceived by the public, and discussions of the impact of this data on insurance company behavior at this time. A detailed description of the presentations is contained in Appendix B.
Based on the information input, discussion during the workshop and subsequent analysis of issues of concern, the workshop sponsors have established recommendations of steps the National Association of Insurance Commissioners (NAIC) and state insurance commissioners can consider taking.

The white paper recommends that climate risk disclosures be clarified and tailored to influence private sector adaptation. The paper also highlights the need for state insurance commissioners to have better access to climate data to help them negotiate risk-based pricing of insurance products.


Publication Date: June 2015

Author or Affiliated User:

  • Victor B. Flatt

Related Organizations:

  • University of North Carolina School of Law Center for Law, Environment, Adaptation and Resources (CLEAR)
  • University of North Carolina
  • Georgetown Climate Center


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