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Clark Hill PLC

New York Department of Financial Services Proposes Circular to Address Insurance Companies’ Use of Artificial Intelligence

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On Jan. 17, the New York Department of Financial Services (“NYDFS” or “Department”) issued for public comment a proposed circular letter (“Circular”) for addressing the use of artificial intelligence systems (“AIS”) and...more

Locke Lord LLP

Artificial Intelligence Regulation in the ‎Insurance Industry – 2023 a Year in Review

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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

Bricker Graydon LLP

Artificial Intelligence - There's Nothing Fake About It

Bricker Graydon LLP on

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

Insurers Need to Do Their Homework: Review of the Use of Data, Algorithms, and Predictive Models

Carlton Fields on

On July 6, 2021, the governor of Colorado signed Senate Bill 21-169 prohibiting insurers’ use of external consumer data and information sources (external data), as well as algorithms and predictive models using external data...more

Manatt, Phelps & Phillips, LLP

Considerations in Machine Learning-Led Programmatic Underwriting

Underwriting is critical to insurance profits: Identify, qualify, and quantify the risk that an insurance policy covers and set the premiums across a pool of the policies to cover the risk. It is the original hedge fund, in...more

Faegre Drinker Biddle & Reath LLP

New York Takes the Lead on Insurers’ Use of Big Data and Algorithms

Nature abhors a vacuum, and the New York Department of Financial Services filled a big one with Insurance Circular Letter No. 1 (2019), which was issued on January 18. The circular letter addresses the use of external...more

Manatt, Phelps & Phillips, LLP

Treasury Discusses Online Marketplace Lending

Why it matters - Regulatory oversight of online marketplace lending is moving forward, with representatives from the Department of the Treasury sharing six "central themes" drawn from comments on the agency's Request...more

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