News & Analysis as of May 9, 2025

Insurance Industry

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Follow this channel for advisories on one of the biggest threats to businesses today. Read a morning brief of fresh guidance and commentary by leading lawyers on security, privacy, risk management, global regulations, data protection, leaks, hacking, cyber insurance, compliance, HIPAA, and every other aspect of cybersecurity of import to corporate readers right now. less -

UK Financial Stability in Focus report: AI in the financial system

A&O Shearman on 4/18/2025

The Financial Policy Committee (FPC) of the Bank of England (BoE) has published the Financial Stability in Focus report on AI in the UK financial system. The FPC considers the potential benefits of AI with its growing...more

NAIC Spring Meeting Update Part Two

Maynard Nexsen on 4/11/2025

As discussed in last week’s article, along with almost 3,000 regulators and insurance industry leaders, the Maynard Nexsen Insurance Regulatory team of attorneys attended the National Association of Insurance Commissioners...more

US NAIC Spring 2025 National Meeting Highlights: Innovation, Cybersecurity, and Technology (H) Committee

Mayer Brown on 4/10/2025

On March 26, 2025, the Innovation, Cybersecurity, and Technology (H) Committee (“H Committee”) met at the Spring 2025 US National Meeting of the National Association of Insurance Commissioners (“NAIC”). The meeting covered...more

Insurance-Related Trends, Risks, and Recommendations for Private Equity Transactions: A Conversation with Ryan Seager at...

Levenfeld Pearlstein, LLC on 3/20/2025

In this second of a two-part conversation, Ryan discusses current trends and challenges, regulatory changes and shifts, and insurance-related best practices for private equity sponsors. In part one, Ryan talked about...more

Navigating the complexities of cyber insurance: a guide for policyholders

Hogan Lovells on 3/5/2025

In today's digital age, the cyber threat landscape is changing faster than ever before. As businesses and individuals increasingly rely on technology, understanding the complexities of cyber insurance has never been more...more

Is Your Company’s Insurance Ready for AI Challenges?

Warner Norcross + Judd on 3/4/2025

Artificial intelligence (AI) is attracting widespread attention due to its significant potential to transform how businesses operate. However, new technology also brings the risk of potential harm due to unforeseen defects,...more

5 Key Takeaways | Managing the Risks in Using Generative AI or How I Learned to Stop Worrying and Love AI

Kilpatrick on 2/20/2025

Kilpatrick's Steve Borgman and Jordan Glassman recently presented on the various generative AI technologies available, with an emphasis on large language models such as ChatGPT (and others that are similar), at Kilpatrick’s...more

AI and Insurance: Bridging Innovation and Risk

Woodruff Sawyer on 2/14/2025

As AI technologies like ChatGPT and other generative AI tools have gained prominence, our clients have started raising questions about their insurance coverage. Among the most frequently asked are: These questions highlight...more

Top Twelve Trends to Monitor in the Hospitality Industry in 2025

Neal, Gerber & Eisenberg LLP on 1/31/2025

The hospitality industry will need to focus on several key areas to ensure compliance and minimize risk in the year ahead, including data privacy and cybersecurity protections, employment and labor law compliance, and even...more

CPPA Opens Public Comment Period for Proposed AI Regulations

Akin Gump Strauss Hauer & Feld LLP on 1/13/2025

The California Privacy Protection Agency (CPPA) announced the formal public comment period for its latest proposed rulemaking package, which includes updates to existing regulations and introduces new guidelines for automated...more

AI Talk With Juliana Neelbauer - Episode Three - Cybersecurity Insurance: Coverage Challenges and Changes

Fox Rothschild LLP on 1/8/2025

In the second part of their conversation, Ralph Pasquariello, a Senior Partner and cyber liability specialist at The Tech Collective, joins host Juliana Neelbauer to discuss the various reasons for the rapid changes in cyber...more

The Hidden Dangers of Unregulated AI: How Governance Protects Your Business

Guidepost Solutions LLC on 12/20/2024

A recent survey by Compliance Week revealed that nearly 70 percent of organizations use AI, but do not have adequate AI governance. This is shocking. But the most alarming part is that these organizations do not perceive that...more

California’s Privacy Regulator Had a Busy November: What Does It Mean for Businesses?

Sheppard Mullin Richter & Hampton LLP on 12/9/2024

The California Privacy Protection Agency released proposed CCPA rules for a variety of topics in November, as well as announcing an investigative sweep for compliance with the Delete Act. Topics include the following, which...more

How AI is Reshaping Cyber Insurance

Integreon on 12/3/2024

AI emerges as both threat and solution in cyber insurance, reshaping risk assessment and breach response. AI is transforming the work of professionals everywhere. Unfortunately, that includes cybercriminals....more

National Association of Insurance Commissioners (NAIC) Fall 2024 Meeting Summary

Mitchell, Williams, Selig, Gates & Woodyard,... on 11/27/2024

The Mitchell Williams Insurance Regulatory team of attorneys recently attended the National Association of Insurance Commissioners (NAIC) Fall 2024 National Meeting which was held in Denver, Colorado. We have prepared a...more

Highlights from the NAIC Fall 2024 National Meeting

Eversheds Sutherland (US) LLP on 11/26/2024

In our recent webinar, members of the Eversheds Sutherland Insurance Practice Group discussed noteworthy developments from the National Association of Insurance Commissioners (NAIC) Fall National Meeting that was held in...more

Call For Public Comment: A Report on AI Use in the Financial Sector

Barnea Jaffa Lande & Co. on 11/25/2024

This month, an interim report on artificial intelligence in the financial sector was published for public comment. The report was written by the Ministries of Justice and Treasury, the Competition Authority, the Securities...more

Decoded - Technology Law Insights, V 5, Issue 7, August 2024

Spilman Thomas & Battle, PLLC on 9/4/2024

Welcome to our seventh 2024 issue of Decoded - our technology law insights e-newsletter. We have a few events we want to pass along to those interested in technology, but also other areas of law and business. ...more

State Regulators Address Insurers’ Use of AI: 11 States Adopt NAIC Model Bulletin

McDermott Will & Emery on 6/5/2024

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

Racing Ahead: Privacy, Cybersecurity, and AI Heats for the Life Insurance Industry

Carlton Fields on 5/16/2024

Drivers, start your engines. It has been months of high speed for privacy, cybersecurity, and artificial intelligence....more

Navigating the New Frontier: Insurance for Artificial Intelligence Risks

K&L Gates LLP on 3/5/2024

On 27 December 2023, The New York Times filed a lawsuit against OpenAI and Microsoft alleging copyright infringement in connection with OpenAI’s popular ChatGPT technology. This lawsuit is part of the first wave of...more

New York Department of Financial Services Issues Proposed Circular Letter on Use of AI in Insurance Industry

Bond Schoeneck & King PLLC on 2/23/2024

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

2024 J.S. Held Global Risk Report: New Laws Addressing the Risks and Rewards of Artificial Intelligence (AI)

J.S. Held on 2/15/2024

The race to develop AI and calls to regulate it are heating up around the world. In November 2023, 28 countries, including the United States, United Kingdom, China, and the European Union, met and pledged to work together to...more

[White Paper] United States Insurance Trends and Decisions 2023

Hinshaw & Culbertson - Insights for Insurers on 12/22/2023

As 2024 rapidly approaches, we look back at some of the key decisions, trends, and developments impacting the U.S. insurance industry in 2023 and look ahead at some trends and cases to watch in 2024. Insurers continue to...more

Insurance Regulators ‎Continue to ‎Grapple With the Rapid Development ‎and ‎Use of Artificial ‎Intelligence

Troutman Pepper Locke on 8/17/2023

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

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