On August 31, 2021, the Federal Insurance Office (“FIO”) issued a request for information regarding climate-related financial risk in the insurance sector. In the Request, the FIO laid out a conceptual framework for categorizing climate-related financial risk and its three pronged approach to implement portions of the President’s January 27, 2021 Executive Order on the Climate Crises and his May 20, 2021 Executive Order on Climate-Related Risk in the Financial Sector.  The FIO priorities include evaluating insurance supervision and regulation, examining insurance markets and mitigation/resilience, and promoting insurance sector engagement on climate issues.

The FIO requested comments on these priorities for implementation of the Executive Orders and sought responses to nineteen total information requests.  The FIO is seeking written comment on or before November 15, 2021. Comments can be submitted through the https://www.regulations.gov/ site or via mail to the address in the Request, which can be accessed here.

Photo of Stephen Kelly Stephen Kelly

Stephen Kelly focuses his practice on construction and development, including contract drafting and negotiating and construction-related litigation. Steve, Of Counsel in the Stoel Rives’ Construction and Design group, has represented private and public owners, developers, contractors and designers in many facets of development…

Stephen Kelly focuses his practice on construction and development, including contract drafting and negotiating and construction-related litigation. Steve, Of Counsel in the Stoel Rives’ Construction and Design group, has represented private and public owners, developers, contractors and designers in many facets of development and construction law. He has been listed in Best Lawyers in America® in the practice area of Native American Law from 2012 to 2015 and was selected by Best Lawyers® as Portland Native American Law Lawyer of the Year for 2013.