Biennual report by commissioner re climate-related risks and climate change

(a) Not later than April 1, 2022, and biennially thereafter until April 1, 2032, the Insurance Commissioner shall submit a report, in accordance with section 11-4a, to the joint standing committee of the General Assembly having cognizance of matters relating to insurance. The report shall disclose, for the preceding two calendar years, the Insurance Department's: (1) Progress toward: (A) Addressing climate-related risks, including, but not limited to, the department's progress toward integrating such risks into: (i) Risk-based capital requirements; (ii) Regular supervisory examinations; and (iii) Own risk and solvency assessments; and (B) Incorporating the reduced levels of emissions of greenhouse gas established in section 22a-200a into the department's regulatory and supervisory actions by, among other things, addressing the impacts of thermal coal, tar sands and Arctic oil and gas; and (2) Regulatory and supervisory actions to bolster the resilience of insurers to the physical impacts of climate change. (b) The commissioner may engage the services of third-party actuaries, professionals and specialists that the commissioner deems necessary to assist the commissioner in fulfilling the requirements of this section.