United States: Insurance Laws and Products

On July 21, the California Air Resources Board (“CARB”) held a public workshop to provide updates on the implementation of SB 253, the Climate Corporate Data Accountability Act, which requires U.S.-based entities doing business in California with more than $1 billion in annual revenue to disclose their Scope 1, 2 and 3 greenhouse gas (“GHG”) emissions. During the workshop, CARB introduced a revised reporting deadline, a phased-in approach to Scope 3 reporting, changes to the treatment of insurance companies, and proposed assurance requirements that would apply from 2027 and beyond.

The U.S. Court of Appeals for the Sixth Circuit, applying Ohio law, affirmed summary judgment in favor of an insured food manufacturer and held that thousands of bodily injury claims arising from an alleged salmonella...

The NAIC Capital Adequacy Task Force has adopted significant changes to risk-based capital factors for life insurers, affecting collateralized loan obligations, residential mortgage loan funds, and collateral loans. These regulatory updates will take effect in phases between December 2026 and December 2027, fundamentally altering how insurers calculate capital requirements for these investment categories.