Acting Superintendent of Financial Services Adrienne A. Harris today announced that the New York State Department of Financial Services (DFS) has issued final guidance to New York-regulated domestic insurers detailing DFS’s expectations related to their management of the financial risks from climate change. After issuing a proposed version of the guidance in March, DFS received comments from a broad range of stakeholders, including insurers, trade groups, consumer advocates, climate experts, rating agencies and other financial regulators. The final guidance reflects DFS’s careful consideration of all comments received.
“Climate change is an urgent issue that poses wide-ranging and material risks to the financial system. Insurers, which are uniquely impacted as climate change affects both sides of their balance sheets, also play a critical role in managing climate risks,” said Acting Superintendent Harris. “The guidance is intended to support insurers’ efforts to manage the financial risks...
Every couple of years, the same false stories come back. A claim that an election was rigged before a single vote was cast. An old video of violence, stripped of its date and place, presented as b...