The National Association of Insurance Commissioners’ (NAIC) Privacy Protections (H) Working Group (the “Working Group”) has continued its charge to draft a new or revised model law aimed at standardizing privacy protections...more
Recent developments in AI continue to highlight its increasing prevalence and the regulatory challenges it poses. The DOJ has sued RealPage, alleging its AI software enables rent price-fixing, while NIST partnered with OpenAI...more
A week before the EU’s AI Act comes into force on August 1, the White House announced that U.S. agencies have completed all actions required by President Biden’s AI Executive Order to date. Meanwhile, the Republican Party...more
The United Nations unanimously adopts a landmark resolution mapping a path for international cooperation on AI, and the Financial Stability Oversight Council announces a two-day conference exploring the benefits and risks of...more
The House of Representatives aims to keep the U.S. at the leading edge of AI policy and innovation with a bipartisan task force while the FTC considers expanding a rule to crack down on AI impersonation. Meanwhile, a recent...more
Dozens of senators kicked off a series of closed-door sessions, known as the A.I. Insight Forum, to hear from key industry stakeholders and discuss AI regulation. Will they be able to reach consensus on the scope of future...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 SEC cracks down on potential conflicts of interest for broker-dealers and investment advisors using predictive data analytics, the “No Robot Bosses Act of 2023” is introduced in the Senate to regulate employers’ use of...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 May 26, 2023, the Colorado Division of Insurance released a revised draft regulation setting forth governance and risk management framework requirements for life insurers using external consumer data and information...more
Our latest briefing dives into new local laws about AI and how it affects both employment and insurance industries, the launch of NIST’s Trustworthy & Responsible Artificial Intelligence Resource Center and the plans for it...more
Our latest briefing dives into the Senate’s exploration of transparency and accountability to prevent bias in algorithmic decision systems, new guidance from the U.S. Copyright Office regarding works including content...more
Our latest briefing dives into the public launch of the NIST’s long-awaited AI Risk Management Framework, the EEOC’s new plan to tackle AI-based discrimination in recruitment and hiring, and the New York Department of...more
Our latest briefing explores a suspension of activity on the Stop Discrimination by Algorithms Act of 2021, an IAIS discussion on discrimination in advertising, and the anticipated release of a U.S./EU AI roadmap....more
Election outcomes affect every industry. Insurance, however, is unique in the range of elected policymakers who can impact it directly — insurance commissioners, governors and Congress (not to mention state legislatures and...more
Our team will be on the ground in Santiago, Chile for the International Association of Insurance Supervisors (IAIS) Annual Conference from November 10-11. This year’s theme is “Changing landscape: the role of the insurance...more
Our latest briefing explores the recent FTC commercial surveillance and data security forum (including discussion on widespread use of AI and algorithms in advertising), California’s inquiry into potentially discriminatory...more
Our latest briefing examines the latest signal that the Federal Trade Commission is considering rulemaking, a groundbreaking settlement between the Justice Department and Meta over allegedly discriminatory algorithms,...more
The federal government continues to take significant interest in organizations using artificial intelligence and algorithmic decision-making systems, as evidenced by three recent developments out of Washington, D.C.
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Our latest briefing explores the NAIC’s efforts to address algorithmic bias, the Colorado Division of Insurance’s latest stakeholder session on external consumer data and algorithms, and a private-sector solution for...more
Faegre Drinker’s insurance team will once again be well-represented at the National Association of Insurance Commissioners’ Spring National Meeting from April 4-8 in Kansas City. As pandemic restrictions ease, we expect broad...more
The federal government continues to weigh in on artificial intelligence, algorithmic fairness and related issues. In the latest artificial intelligence briefing, we analyze recent events in Washington, D.C., and also track...more
As more organizations use artificial intelligence and algorithms to drive decision-making processes, policymakers are beginning to address concerns about these tools — including their lack of transparency and potential for...more
Colorado Senate Bill 21-169 passed its first test on May 3, 2021, as the Senate Business, Labor & Technology Committee approved a strike-below version of the bill by a 4-3 margin. The revised bill would...more
The National Association of Insurance Commissioners’ (NAIC) Special (EX) Committee on Race and Insurance met during the virtual Spring National meeting on April 12 to discuss its recently proposed 2021 charges. The lengthy...more