KNOW BETTER NEW YORK CONNECTIONS
Compliance Checkpoint: Climate Risk and DFS Guidance
Featuring: James Waller, PhD, Research Meteorologist, Global Strategic Advisory and Mark Murray, Managing Director, Strategic Advisory of Guy Carpenter & Company, LLC
Held On: Wednesday, May 11, 2022
The New York Department of Financial Services released guidance last year requesting that domestic insurance companies further contemplate climate risk. In the Guidance for New York Domestic Insurers on Managing the Financial Risks from Climate Change, DFS outlines their expectations that all New York domestic insurers start integrating the consideration of the financial risks from climate change into their governance frameworks, business strategies, risk management processes and scenario analysis, and developing their approach to climate-related financial disclosure. DFS has indicated that they intend to monitor insurers’ progress in implementing the expectations in the guidance. The first deadline they have issued is August 15 of this year, when insurers have been asked to implement the expectations relating to board governance and have specific plans in place to implement the expectations relating to organizational structure.
This program will provide companies with overarching information on climate risk and extreme weather, including from a meteorological perspective. The bulk of this compliance checkpoint will provide specific insights on DFS’s expectations and address how companies can appropriately respond to the upcoming deadline. The speakers will share specific insights on corporate governance, enterprise risk management and organizational structure and give companies an opportunity to gauge their progress in these areas. This is a great opportunity to not only hear keen perspective, but also raise any questions on your mind. Register today to better prepare your company to respond to the DFS guidance and hear tips and best practices on how to develop an overall approach to climate risk.
$49 for members
$149 for nonmembers
Be sure to download GoToWebinar in advance of the program. Further instructions will be emailed after registering. Check system compatibility here or email email@example.com with any questions.