Creating a new layer of federal oversight would neither enhance nor standardize the climate-related disclosures U.S. insurers make to investors, the Insurance Information Institute (Triple-I) said in a letter sent to the U.S. Securities and Exchange Commission (SEC).
Triple-I’s letter came in response to the SEC’s request for public comment on its proposed rulemaking, “The Enhancement and Standardization of Climate-Related Disclosures for Investors.”
Insurers have a strong ethical and financial interest in facilitating the transition to a lower-carbon economy.
“The U.S. property and casualty industry supports and can play a constructive role in advancing transparency around weather- and climate-related risks.
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