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Artificial Intelligence NAIC Machine Learning

Locke Lord LLP

West Virginia Issued Bulletin No. 24-06 RE: Artificial ‎Intelligence

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On August 9, 2024, the West Virginia Office of the Insurance Commissioner issued Bulletin 24-06 on Artificial Intelligence Systems (“Bulletin”). The Bulletin is applicable to “all insurers authorized to do business in West...more

Locke Lord LLP

Arkansas Issued Bulletin 13-2024 RE: Use of AIS in Insurance

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On July 31, 2024, Arkansas issued Bulletin 13-2024 on the Use of Artificial Intelligence Systems in Insurance. The Bulletin is applicable to all companies licensed to do business in Arkansas and is based upon the NAIC Model...more

Quarles & Brady LLP

States Adopt NAIC Model Bulletin on Insurers’ Use of AI

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State regulators are taking action on the use of artificial intelligence in insurance. To date, nearly a dozen states have adopted some form of the National Association of Insurance Commissioners (NAIC) Model Bulletin on the...more

McDermott Will & Emery

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

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

Carlton Fields

NAIC Groups Carve Up the Mountain at the Winter Meeting

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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

Carlton Fields

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

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

Fenwick & West LLP

NAIC Forms Third-Party Data and Models Task Force and Proposes 2024 Charges and Work Plan

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At the recent National Association of Insurance Commissioners (NAIC) meeting in Phoenix, Arizona (March 14–18), a new Third-Party Data and Models Task Force (Task Force) was created. The charges of the Task Force are twofold....more

Carlton Fields

NAIC H Committee Continues as Ringmaster Coordinating Numerous Initiatives

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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

Fenwick & West LLP

Best Practices for Utilizing AI/ML Tools as NAIC Adopts the Model Bulletin on Use of AI

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At the recent 2023 national meeting of the National Association of Insurance Commissioners (NAIC) in Orlando (November 30 – December 4), the Innovation Cybersecurity and Technology Committee of NAIC (the “H Committee”) and...more

Carlton Fields

NAIC Innovation, Cybersecurity, and Technology (H) Committee Gets in on the Action

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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

Skadden, Arps, Slate, Meagher & Flom LLP

AI Insights: NAIC Releases Draft Model Bulletin Regarding Use of AI by Insurers

In July, the Innovation, Cybersecurity and Technology Committee of the National Association of Insurance Commissioners (NAIC) released an exposure draft of its model bulletin titled “Use of Algorithms, Predictive Models, and...more

Bricker Graydon LLP

Artificial Intelligence - There's Nothing Fake About It

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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

Carlton Fields

Regulators Looking to Various Kitchen Tools to Regulate Insurers’ Use of Artificial Intelligence and Machine Learning

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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

Eversheds Sutherland (US) LLP

NAIC survey finds that overwhelming majority of Private Passenger Auto Insurers use or plan to use Artificial Intelligence/Machine...

In December 2022, the National Association of Insurance Commissioners (NAIC) Big Data and Artificial Intelligence (H) Working Group published a Report on the use of artificial intelligence (AI) and machine learning (ML)...more

Carlton Fields

Insurors’ Vendor Relationships May Get Wintery Gusts: A Chill for Consumer Data, Artificial Intelligence (AI), and Machine...

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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

Carlton Fields

A Flurry of Algorithmic Activity at the NAIC 2022 Fall National Meeting

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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

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