On Friday, May 17, 2024, Connecticut Insurance Commissioner Mais filed a Petition for Rehabilitation and Appointment of the Commissioner as Rehabilitator of PHL Variable Insurance Company ("PHL"), a Connecticut domestic stock...more
Nevada has adopted the NAIC Model Bulletin on the Use of AI Systems by Insurers along with seven other states, including Alaska, Connecticut, Illinois, New Hampshire, Nevada, Rhode Island and Vermont....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
On September 27, 2023, the Colorado Division of Insurance (the “Division”) exposed a new proposed regulation entitled “Concerning Quantitative Testing of External Consumer Data and Information Sources, Algorithms, and...more
On September 21, 2023, the Colorado Insurance Division adopted Regulation 10-1-1 entitled “Governance and Risk Management Framework Requirements for Life Insurers’ Use of External Consumer Data and Information Sources,...more