Insurance Company Climate Risk Disclosure Survey

The goal of the Insurance Company Climate Risk Disclosure Survey is to provide the Pennsylvania Insurance Department, shareholders and the public with substantive information about the risks posed by climate change to insurance companies and the actions they are taking in response to their understanding of climate change risks. Climate change is an important issue for our world today. The U.S. Environmental Protection Agency states, "Many elements of human society and the environment are sensitive to climate variability and change. Human health, agriculture, natural ecosystems, coastal areas and heating and cooling requirements are examples of climate-sensitive systems."

Disclosure of climate change risks in the insurance industry is important because of the potential impact of climate change on insurance company solvency and insurance availability and affordability across all major categories of insurance: property casualty, life and health. The Insurance Company Climate Risk Disclosure Survey contains a set of questions to help the department assess insurance company risk assessment and management efforts and follow up with questions as necessary, subject to applicable examination and confidentiality provisions. The disclosure builds upon existing climate risk disclosure mechanisms, but has an increased focus on issues related to insurance company solvency and insurance availability and affordability.

For 2009 financial reporting year, completion of the climate risk survey is mandatory for insurance groups with direct premium over $500 million. There were 21 insurance groups that met the criteria identified above.  Responses from these carriers are mandatory and public as required under the Insurance Company Law 40 P.S. 443(a)(1).  To view the results, simply click on the name of the insurance company listed below.

Survey Results:

ACE USA

Bravo Health, Inc.

Capital BlueCross

Erie Insurance Group

Geisinger Health Plan

Harleysville Insurance

Highmark, Inc.

Hospital Service Association, dba Blue Cross of Northeastern Pennsylvania

Independence Blue Cross

Lincoln General

Magellan Health Services Insurance Group

Medco Containment Life

Old Republic Insurance Group

Pennsylvania Life Insurance Company

Penn Mutual Group

Pennsylvania National Mutual Casualty

Philadelphia Consolidated Holding Group

PMA Insurance Group

QBE the Americas

Radian Group, Inc.

UPMC

Archived, Survey Information: