Since the start of 2025, the following states have added to the roadwork on artificial intelligence regulation in insurance by implementing the NAIC’s model bulletin on the use of AI systems by insurers...more
5/1/2025
/ Algorithms ,
Artificial Intelligence ,
Colorado ,
Commercial Insurance Policies ,
Consumer Insurance Products ,
Insurance Regulations ,
Machine Learning ,
NAIC ,
Pending Legislation ,
Proposed Rules ,
Regulatory Agenda ,
Regulatory Requirements ,
State and Local Government
During the NAIC Spring National Meeting, the Big Data and Artificial Intelligence (H) Working Group reviewed its blueprint to build an overarching regulatory edifice to oversee insurers’ use of artificial intelligence...more
4/29/2025
/ AI Act ,
Algorithms ,
Artificial Intelligence ,
Data Collection ,
Insurance Regulations ,
Machine Learning ,
NAIC ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Assessment ,
Risk Management ,
Working Groups
States continue to decode their expectations regarding insurers’ use of artificial intelligence (AI) systems. Since our last report, the following states have issued bulletins based on the National Association of Insurance...more
Regulators are growing concerned about the delegation of various insurance company functions, prompting a closer examination of third-party vendors. Several groups within the National Association of Insurance Commissioners...more
2/6/2025
/ Annuities ,
Artificial Intelligence ,
Big Data ,
Data Privacy ,
Employee Benefits ,
Insurance Regulations ,
Machine Learning ,
NAIC ,
Privacy Concerns ,
Regulatory Agenda ,
Retirement ,
Risk Management ,
Third-Party ,
Third-Party Service Provider
The many balls that the various National Association of Insurance Commissioners groups currently have in the air focusing on life insurers’ use of artificial intelligence and machine learning were reflected in the reports...more
Since the 2023 adoption by the National Association of Insurance Commissioners of its model bulletin on the use of AI systems by insurers, states have been adopting the model bulletin or draft requirements of their own. Below...more
A "time cut" is a ruling within cycling to ensure that riders keep pace. Similarly, regulators have placed time cuts, or deadlines, for insurers to certify compliance with cybersecurity regulations. Some of the time cuts are...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
States have been off to the races to place in the artificial intelligence insurance regulatory Grand Prix. The NAIC adopted the Model Bulletin on the Use of AI Systems by Insurers, which some states have drafted on to adopt...more
Drivers, start your engines. It has been months of high speed for privacy, cybersecurity, and artificial intelligence....more
5/16/2024
/ Algorithms ,
Artificial Intelligence ,
California Privacy Protection Agency (CPPA) ,
Cybersecurity ,
Data Brokers ,
Data Privacy ,
Data Security ,
Healthcare ,
Insurance Industry ,
Life Insurance ,
Machine Learning ,
NAIC ,
TCPA
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
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
10/11/2023
/ Algorithms ,
Artificial Intelligence ,
Consumer Insurance Products ,
Cybersecurity ,
Innovation ,
Insurance Regulations ,
Life Insurance ,
Machine Learning ,
NAIC ,
Popular ,
Proposed Regulation ,
Reporting Requirements ,
Risk Management ,
Technology
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
As 2022 ended, various groups of the National Association of Insurance Commissioners (NAIC), as well as the Colorado Department of Insurance (CO DOI), continued to gain a better understanding of insurers’ use of consumer...more
At the National Association of Insurance Commissioners (NAIC) 2022 Fall National Meeting (Fall Meeting), the various NAIC groups hit the industry with an array of snowballs of various actual and proposed surveys, guidance,...more
On July 6, 2021, the governor of Colorado signed Senate Bill 21-169 prohibiting insurers’ use of external consumer data and information sources (external data), as well as algorithms and predictive models using external data...more