How Will the NAIC Regulate Third-Party Data and Models?
The National Association of Insurance Commissioners (“NAIC”) has created a new Third-Party Data and Models (H) Task Force which is charged with developing and proposing a framework for the regulatory oversight of third-party data and predictive models. At the Spring National Meeting in Phoenix, the Chair of this task force, Colorado Insurance Commissioner Michael Conway, informed those in attendance that the task force anticipates a two-year workplan.
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