As anticipated, the Risk Rating 2.0 Flood Insurance Manual (FIM) was released on Sept. 1. An update to the existing FIM was released at the same time, as was a final version of the Industry Transition Memo (ITM). Here is what you need to know about each. Industry Transition Memo The ITM, linked above, explains …
Continue reading The Risk Rating 2.0 Flood Insurance Manual Has Arrived
As reported here, earlier this year, the Biden administration assigned new tasks to the Federal Insurance Office (FIO) via an Executive Order on Climate-Related Financial Risk that tasked both the FIO and the Financial Stability Oversight Council (FSOC), another Dodd-Frank creation, with assessing “climate-related issues or gaps in the supervision and regulation of insurers.” On August 31, …
Continue reading FIO Seeks Comments on New Climate-Related Insurance Authority
