Videocast: Asset management regulation in 2020 videocast series – The annuity regulatory landscape
The Intersection of Big Data and Insurance Regulation
InsurTech and the Changing Distribution Model
The Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) met on Wednesday June 12, 2024, to consider which proposed path forward to pursue as it considers a new NAIC privacy...more
In December 2023, the National Association of Insurance Commissioners (NAIC) adopted a Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers. The model bulletin reminds insurance carriers that they...more
Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more
After strapping on their skis and riding up the lifts, the NAIC groups reported to their events. The results of the events of note for life insurers are as follows...more
On May 15, 2024, the Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) held its first meeting since the Spring National Meeting in March. The working group seeks public...more
Drivers, start your engines. It has been months of high speed for privacy, cybersecurity, and artificial intelligence....more
For over 100 years, the National Association of Insurance Commissioners (NAIC) has been developing model legislation to encourage uniformity among states for the regulation of insurance products. The NAIC model laws and...more
Over the last few years, the work of the Cybersecurity (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) has focused on cybersecurity risk to insurance licensees such as insurance carriers,...more
Technological advances, especially in Artificial Intelligence and quantum computing, will continue to amaze in the coming years. They will open up vast new opportunities while presenting profound regulatory, litigation, and...more
On Jan, 17, 2024 the New York State Department of Financial Services (NYDFS) issued a proposed circular letter addressing the use of artificial intelligence systems (AIS) and external consumer data and information sources...more
Step right up as we discuss some of 2023’s most notable cybersecurity and privacy regulatory and litigation developments and tips for keeping your program flying high. Regulatory Activity New regulatory requirements now in...more
Under the leadership of Maryland Insurance Commissioner Kathleen Birrane, in 2023 the Innovation, Cybersecurity, and Technology (H) Committee of the National Association of Insurance Commissioners completed two main...more
The Department of Justice ("DOJ") recently announced a $1.75 million false claims settlement with a contractor that "improperly obtained government contracts that were set-aside for small businesses." The DOJ settlement...more
On July 17, the Innovation, Cybersecurity, and Technology (H) Committee of the National Association of Insurance Commissioners released its exposure draft of the NAIC’s model bulletin on insurers’ use of algorithms,...more
The first half of 2023 saw a flurry of activity in the privacy and data security spaces. We outline below some of the key developments of interest to the insurance industry....more
The National Association of Insurance Commissioners (NAIC) held its 2023 Summer National Meeting from August 12 to 16 in Seattle, Washington. As has become the norm, a number of relevant NAIC working groups and task forces...more
The Mitchell Williams Insurance Regulatory team of lawyers recently attended the National Association of Insurance Commissioners (NAIC) 2023 Summer National Meeting which was held in Seattle, Washington. We have prepared a...more
On August 13, 2023, insurance regulators and the insurance industry met in Seattle, Washington at the NAIC Summer Meeting and continued to address the challenges of monitoring and regulating the insurance industry’s use of...more
Various chefs within the National Association of Insurance Commissioners and some individual states’ chefs continue to address insurers’ use of artificial intelligence (AI), machine learning (ML), the use and protection of...more
New York’s Department of Financial Services signaled once again its intent to strongly enforce the state’s Cybersecurity Regulation by finding OneMain Financial Group violated the law in several ways and imposing a $4.25...more
The “balancing act” of insurance regulation across jurisdictions, policymakers, and stakeholders took center stage at the 18th Annual Networks Financial Institute Insurance Public Policy Summit on May 17 in Washington D.C....more
On February 1, 2023, the NAIC Privacy Protections Working Group (PPWG) released a draft of Model Law 674 Insurance Consumer Privacy Protection Model Law (Model 674 or Model). Proposed Model 674 is intended to replace Model...more
Few things thrill baseball fans more than opening day. They come with a mix of excitement and trepidation. For many of them, it’s the first day they get to see their favorite team showcase its talents, and their first glimpse...more
The National Association of Insurance Commissioners (NAIC) held its 2023 Spring National Meeting March 21-25 in Louisville, Kentucky. The agenda for this National Meeting was limited, with a number of NAIC working groups...more
The National Association of Insurance Commissioners (NAIC) Privacy Protection Working Group (PPWG) released Insurance Consumer Privacy Protection Model Law #674 (Model 674) on February 1, 2023. New Model 674 was expressly...more