CT SB00345

Insurance Commissioner must conduct at least annual studies to determine whether insurers licensed or domiciled in Connecticut have disclosed fossil fuel investments, engaged in coal or tar sands underwriting, or performed climate risk scenario analysis.

Commissioner must assess feasibility by January 1, 2021 of requiring insurers to file climate-related financial disclosure reports consistent with Financial Stability Board recommendations and of collecting annual data on gross premiums earned from coal or tar sands projects.

Commissioner must file annual reports to the joint standing committee on insurance beginning January 1, 2021, disclosing study results from the preceding calendar year, with the first report including the feasibility assessment results.

Act takes effect upon passage and creates new statutory requirements for the Insurance Commissioner's oversight of insurers' climate-related financial exposure and disclosure practices.