ORSA reporting related to climate matters

Sustainability and climate change are the current focus of insurance specific regulation. New requirements include the integration and disclosure of climate risks and opportunities in an insurer's Own Risk and Solvency Assessment (ORSA) report. Climate-related risks and opportunities affect various aspects of an insurer's business, such as underwriting and investment portfolios, and therefore represent a new risk management responsibility.

Integrating ORSA climate risk into your climate risk assessment process is essential for effective ORSA reporting and solid climate change risk management.

Our approach to ORSA in the aera of climate risks

To quantify the climate-related risks to your company, we have developed a methodology that fits seamlessly into your overarching risk management and existing ORSA process. Our experts will tailor it to your company's internal risk management processes and tools.

How Forvis Mazars can help you

The risk analysis methodology of our team of experts is based on the latest regulatory and scientific findings and (publicly) available data. We follow a step-by-step approach to analysing your climate-related risks:

Identification of your climate-related risks within traditional risk categories
Pre-assessment of the materiality of the risks identified
Scenario analyses for different horizons (short, medium and long term) in accordance with the climate scenarios as defined by the Network for Greening the Financial System (NGFS)
Evaluation of the analysis’ results and review of the impact of existing and planned risk mitigation techniques such as the reinsurance programme
Summary of results and incorporation in the climate-related issues reporting in the ORSA report

Our team of insurance, sustainability and actuarial experts supports you with extensive expertise in all areas of sustainability reporting. This allows you to recognise and efficiently use overlaps in data points required for regulatory purposes.

Our added value

In addition to regulatory compliance, you can keep a close eye on your climate-related risks and incorporate them in your internal risk management system. We look forward to adding value to your business with our industry-specific sustainability expertise and sophisticated risk methodology.

Submit a RFP

Management of nature-related financial risks

Implement the requirements of the new FINMA circular "Nature-related financial risks" efficiently and integrate them accordingly into risk management as well as into the control and governance structures

Sustainable finance

Finding the right balance between managing risks, seizing the opportunities generated by the transition to a more sustainable world and making a meaningful impact

Climate change and biodiversity

Empowering a sustainable future by bridging climate action and biodiversity conservation

All aspects of CSRD/ESRS

The EU has introduced regulations such as the European Sustainability Reporting Standards (ESRS) to align sustainability reporting with financial reporting. The Corporate Sustainability Reporting Directive (CSRD) will require companies to report on the impact of sustainability issues on their business and how their operations affect people and the planet (i.e. the concept of double materiality). The...

Navigating Swiss Reporting regulations: SCO & TCFD

The landscape for non-financial and climate-related disclosures is changing in Switzerland. It is therefore of the utmost importance to comply with Swiss reporting requirements, including Art. 964a ff. SCO (Swiss Code of Obligations) and TCFD (Task force on climate-related financial disclosures) guidelines to ensure that your financial disclosures meet the latest Swiss legal standards and climate...

Insurance

The insurance industry faces a changing environment in an increasingly complex economic and financial context. Regulatory and tax changes, the increase in catastrophic claims, shrinking margins and competition are all demanding major changes that the insurance sector must address. Similarly, the globalisation of the market, emerging needs or new technologies are all challenges for insurance companies.