There is a potential there.

Thank you very much. Thank you, Mr. Chairman.

We need to make sure the American economy remains the safest and most dependable in the world.

Now is the time to tackle this problem, to protect our vital infrastructure and American competitiveness.

Even the Financial Stability Board acknowledges the massive uncertainty.

We cannot continue on this path. Now is the time to tackle this problem, to protect our vital infrastructure and American competitiveness.

Investment we make now to shore up our infrastructure will both create jobs at home--jobs that can't be sent overseas--and make our industries more competitive.

Climate stress-testing is a good idea. We want to make sure that our institutions are robust in an uncertain future.

However, we must also recognize at least three important points.

Today, the Committee will discuss climate-related risks and the ways in which the insurance and reinsurance industries are evolving and adapting in response.

It would be profoundly misguided for the Biden administration to throw the State-based insurance regulatory regime out in pursuit of its climate agenda.

the scenarios they are use are predicated on several very dubious assumptions.