New York insurers directed to prepare for climate change

Nov. 23, 2021 – In light of the risk that climate change poses to all aspects of society, the state Department of Financial Services is flexing its regulatory muscles to make sure that New York insurers are factoring potential consequences of climate change into their decisions. The head of the department’s new climate division, Dr. Nina Chen, explains what they’re advising insurers to do and addresses her new responsibilities.