RE: Oppose Unless Amended - SB488 (Bradford)

A coalition of environmental and advocacy organizations opposes an amendment to California SB 488 that would limit the Insurance Commissioner's ability to conduct data calls and surveys. The authors argue that restricting this authority, specifically the provision limiting data calls to activity within California, would undermine the state's ability to monitor material financial risks associated with climate change and the transition to a low-carbon economy, effectively ending initiatives like the Climate Risk Carbon Initiative.

• The authors oppose Section 7 of SB 488, asserting that it restricts the Insurance Commissioner's ability to oversee how insurers manage climate risks and monitor the financial stability of insurance markets through surveys and data calls.
• Climate change is identified as a source of material financial risk for businesses and investments, particularly in the energy and fossil fuel sectors, through transition risks (low-carbon economy shifts), legal risks (litigation), and physical impact risks to infrastructure.
• The proposed amendment to Section 12962.5 of the Insurance Code would limit data calls to activity within California, which the authors argue would make the tool ineffective since most major insurance carriers are headquartered outside the state and manage climate risk policies at the corporate group level.

APA

Center for International Environmental Law (2017). RE: Oppose Unless Amended - SB488 (Bradford). https://www.ciel.org/wp-content/uploads/2017/08/Letter-to-Oppose-Unless-Amended-SB488-Bradford.pdf

Chicago

Center for International Environmental Law. RE: Oppose Unless Amended - SB488 (Bradford). 2017. https://www.ciel.org/wp-content/uploads/2017/08/Letter-to-Oppose-Unless-Amended-SB488-Bradford.pdf.

Wikipedia

{{cite press release |author=Center for International Environmental Law |title=RE: Oppose Unless Amended - SB488 (Bradford) |date=22 August 2017 |url=https://www.ciel.org/wp-content/uploads/2017/08/Letter-to-Oppose-Unless-Amended-SB488-Bradford.pdf |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{centerforinternationalenvironmentallaw2017oppose, author = {{Center for International Environmental Law}}, title = {{RE: Oppose Unless Amended - SB488 (Bradford)}}, publisher = {Center for International Environmental Law}, year = {2017}, month = aug, url = {https://www.ciel.org/wp-content/uploads/2017/08/Letter-to-Oppose-Unless-Amended-SB488-Bradford.pdf}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }