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
Much of the activity surrounding the state insurance regulation of artificial intelligence (“AI”) in the insurance industry this year was prompted by the NAIC Model Bulletin: Use of Artificial Intelligence Systems by Insurers...more
2023 has been a very productive year for regulators advancing their efforts to understand new technologies and consider whether and how to regulate the rapidly developing technologies, including artificial intelligence,...more
The last months of 2023 capped off another major year for insurance regulation, with state insurance regulators and the National Association of Insurance Commissioners undertaking a number of initiatives that will affect the...more
On September 21, 2023, the Colorado Division of Insurance adopted a Final Regulation implementing S.B. 21-169, the 2021 law governing Colorado-licensed insurers’ use of external consumer data and information sources (ECDIS),...more
Artificial Intelligence (AI) has become ubiquitous in today’s corporate lexicon. And while much has been said, and written, about AI, the question still remains: what, exactly, is AI? Or, more aptly for this discussion, what...more
On Wednesday February 22, 2023, the National Association of Insurance Commissioners (“NAIC”) Accelerated Underwriting (A) Working Group (the “working group”) exposed for a 45-day comment period draft regulatory guidance while...more
As the various NAIC groups and state regulators continue to ascertain the seaworthiness of insurers’ use of consumer data, algorithms, and machine learning, these lookouts have set their sights on unfair discrimination. The...more
With spring’s arrival, a bouquet of differing NAIC groups and states is popping up to consider the use of big data and algorithms by insurers, including algorithms based on machine learning. Many are focusing on life...more
With the growing use of algorithms and external consumer data, several national and international bodies have recently drafted work product or proposed regulations as follows...more
The Accelerated Underwriting (A) Working Group (AU WG) sprang into action during the first part of the year learning about the landscape of insurers' use of algorithms in underwriting and potential issues of such use, holding...more
As previously reported in our October 9, 2018, client alert, the sands began shifting in late 2018 when the NAIC Big Data Working Group (Big Data WG) began questioning life insurer’s use of big data after a LIMRA survey found...more
Various groups within the NAIC are beginning to study the way in which insurers are using big data. On the property and casualty front, the Market Regulation (D) (Market Reg) Committee is reviewing the use of big data in...more