Sec. 38a-23. Biennual report by commissioner re climate-related risks and climate change.
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(a)Not later than April 1, 2022, and biennially thereafter until April 1, 2032, the Insurance Commissioner shall submit a report, in accordance with section 11-4a , to the joint standing committee of the General Assembly having cognizance of matters relating to insurance. The report shall disclose, for the preceding two calendar years, the Insurance Department's:
(1)Progress toward:
(A)Addressing climate-related risks, including, but not limited to, the department's progress toward integrating such risks into:
(i)Risk-based capital requirements;
(ii)Regular supervisory examinations; and
(iii)Own risk and solvency assessments; and
(B)Incorporating the reduced levels of emissions of greenhouse gas established in section 22a-200a into the department's regulatory and supervisory actions by, among other things, addressing the impacts of thermal coal, tar sands and Arctic oil and gas; and
(2)Regulatory and supervisory actions to bolster the resilience of insurers to the physical impacts of climate change.
(b)The commissioner may engage the services of third-party actuaries, professionals and specialists that the commissioner deems necessary to assist the commissioner in fulfilling the requirements of this section.