CID Press Releases Header
April 5, 2024



HARTFORD, CT –The Connecticut Insurance Department (CID) announced its participation in the adoption of the first-ever National Climate Resilience Strategy for Insurance by the National Association of Insurance Commissioners (NAIC). Commissioner Andrew N. Mais, also serving as the NAIC President, participated in a media briefing on Friday, April 5th, to discuss the significance of this initiative.

The NAIC National Climate Resilience Strategy for Insurance aims to mitigate losses and expedite recovery from natural disasters, safeguarding the nation's property insurance market. Developed under the guidance of the NAIC's Climate and Resiliency Task Force, this strategy outlines state regulators' plans to collect data, blueprint flood insurance, leverage catastrophe modeling, develop new resilience tools, advocate for mitigation funding, and enhance solvency oversight.

"Closing the protection gap and ensuring insurance availability and reliability are paramount in the face of climate risks”, said Commissioner Andrew N. Mais. “The National Climate Resilience Strategy provides a crucial blueprint for state insurance regulators to strengthen communities and enhance resilience."

Connecticut’s participation in this initiative aligns with the state’s ongoing efforts to mitigate climate risks and enhance consumer protection. Governor Ned Lamont has put forth a proposal in the current legislative session concerning climate resiliency planning, Senate Bill 11, that specifically directs the Insurance Commissioner to convene a working group of stakeholders to study the need, structure, and feasibility of a program to assist homeowners and small businesses—especially in vulnerable communities—with fortification activities, including incentive programs and funding sources for such activities, to protect against potential losses due to natural hazards and climate-related risks.

CID is collaborating with states nationwide to establish a comprehensive database that will enable state insurance regulators to more effectively monitor their homeowner markets, pinpoint evolving trends, and identify potential coverage gaps on an annual basis. Such insights are pivotal for the Department to gauge fluctuations in deductibles and coverages, providing crucial information on the extent of consumer impact following catastrophic events.

CID has also adopted and implemented the NAIC’s TCFD-aligned Climate Risk Disclosure Survey, which requests, on an annual basis, a non-confidential disclosure of certain domestic insurers’ assessment and management of their climate-related risks across four thematic areas – governance, strategy, risk management, and metrics and targets. CID reviews these survey responses, in conjunction with key data from other climate-related financial solvency tools, to inform its financial oversight of the insurance marketplace and assure insurers’ financial condition and ability to cover claims.

The big risks inherent in this small New England state include:

  • Over $700 billion worth of property insured on Connecticut coastline, 6th highest of 18 Atlantic states.
  • 64% of all insured property in Connecticut is on the coastline, 3rd behind Florida and New York.
  • Nearly 60% of Connecticut is forested and this state is among the most densely populated.

“Through initiatives such as the proposed Mitigation Grant Advisory Council, our active participation in the NAIC Climate Risk Disclosure Survey, and the annual Connecticut Conference on Climate Change and Insurance (C4i)”, said Commissioner Andrew N. Mais, “we remain committed to safeguarding our communities, mitigating loss, and fostering resilience as we confront the challenges posed by climate change."



Contact: Mary Quinn
Communications, Director
Cell: (959) 529-4904