At the Summer 2023 National Meeting of the US National Association of Insurance Commissioners (“NAIC”), a number of sessions were focused on environmental, social and governance (“ESG”) initiatives, led by the Special (EX) Committee on Race and Insurance (the “R&I Committee”) and the Climate and Resiliency (EX) Task Force (“C&R Task Force”), both of which report to the NAIC Executive (EX) Committee. While neither the C&R Task Force nor the R&I Committee announced any major developments or exposed any substantive items for review or comment, both bodies reported on the ongoing progress of important initiatives which they have been overseeing during the past few years. In addition, the Property and Casualty Insurance (C) Committee (the “P&C Committee”) announced plans for a data call to better understand protection gaps and the availability and affordability of insurance.
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