Climate Scenario Considerations: U.S. Own Risk and Solvency Assessment (ORSA)

The Climate Related Financial Disclosures Subcommittee and the Climate Change Joint Committee released Climate Scenario Considerations: U.S. Own Risk and Solvency Assessment (ORSA), a policy paper examining how U.S. insurers can better incorporate climate risk scenarios into ORSA reporting. It also highlights the growing materiality of climate risks, outlining scenario development using physical and transition risk frameworks, and presenting key resources for modeling and disclosure aligned with regulatory and market expectations.