The Association of Metropolitan Water Agencies has released a primer on what utilities need to know about insurance, bond ratings and climate risk. The primer describes the growing interest bond rating agencies and insurance companies have in climate change and its effects on utilities. The paper also presents information utility managers should know as they consider how climate change is impacting not only water agency planning and operations but also creditworthiness, insurance coverage, and municipal bond buyers. It concludes with several suggested next steps in enterprise risk management.