15 March 2021
HAMILTON, BERMUDA – The Bermuda Monetary Authority (Authority or BMA) published the results of its climate change survey today. The survey, conducted in 2020, gathered information from insurance groups, commercial insurers (classes 3B, 4, D, E and select 3A and C classes) and select special purpose insurers. The survey focused on insurers’ general climate risk understanding; an assessment of climate change’s impact on strategy and governance, underwriting and product development, and investments; climate change stress testing; disclosures; and lessons learned from COVID-19 that translate to climate change risk management.
