Schwarcz's Proposal Adopted by NAIC Task Force

Professor Daniel Schwarcz, who is also a consumer representative to the National Association of Insurance Commissioners (NAIC), recently proposed an amendment to an industry "white paper" on global climate change. The proposal, which was unanimously adopted by the NAIC Climate Change and Global Warming Task Force, recommended that insurers encourage consumers to drive less by giving greater weight in setting policy premiums to the number of miles that policyholders drive.