NAIC states climate change will have impacts on insurance companies including company financial health and availability and affordability of insurance for consumers. Insurance companies with premiums of $500 million or more a year are now required to complete an Insurer Climate Risk Disclosure Survey every year with a first deadline of May 1, 2010. Scope of the new disclosure is broad, covering altering risk management to catastrophe risk modeling and steps taken to educate policymakers and policyholders.

Recently, the NAIC Climate Change and Global Warming Task Force released a draft notification letter to insurers with instructions how to respond to the regulators climate risk disclosure survey. An extensive report, Global Risks 2010, outlining climate changed risks has been released by NAIC