On Tuesday, April 2, 2024, the Colorado Division of Insurance (“Division”) held its second Unfair Discrimination in Insurance Practices – Health Insurance Stakeholder meeting where the Division discussed efforts to develop regulations addressing governance and risk management framework requirements for health insurers’ use of external consumer data and information sources, algorithms, and predicative models. The meeting presented an opportunity for stakeholders to provide comments and insights with respect to their positions on how the Division should proceed.
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NAIC Model Bulletin on the Use of AI Systems by Insurers Adopted in Eight States
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.
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Ethical AI in Insurance: Survey Insights Webinar
Paige Waters will serve as a panelist at the 2024 Ethical AI In Insurance Survey Insights webinar on March 12, 2024 at 11am ET.
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JOIN US! 2023 Year in Review & 2024 Trends: AI in the Insurance Industry
Over the next few months, Locke Lord lawyers will tackle some of the most pressing AI concerns in a series of complimentary webinars discussing practical, real-world challenges facing organizations.
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Artificial Intelligence Regulation in the Insurance Industry – 2023 a Year in Review
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, predictive models and algorithms. Keeping in mind that existing insurance laws and regulations often are broad enough to sweep in the new technologies, both the industry and regulators desire a better understanding of how the technologies are being used and how to approach their regulation. In 2023, many initiatives took root and spurred further efforts to protect consumers in the wake of new technological innovations impacting the insurance industry.
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You’re invited: 2023 Insurance Forum
Locke Lord is proud to host the 2023 Insurance Forum, presented by The Insurance Forum Foundation at the Chicago office on November 2, 2023. Paige Waters, will moderate a panel that will discuss Artificial Intelligence in the Insurance Industry.
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NAIC Spring Meeting – Discussion of Hot Topics and Insurance Regulatory Trends in 2021
Join us for a discussion of hot topics addressed at the Spring 2021 Virtual NAIC Meeting and other 2021 trends, including big data and AI, climate and resiliency, long-term care, delegated entities and annuity best interest model.
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Locke Lord QuickStudy: New Washington Statutory Financial Requirements for Providers of Service Contracts and Protection Product Guarantees Effective July 28, 2019
Washington H.B. 1001 was enacted on April 8, 2019, and will take effect on July 28, 2019.1 H.B. 1001 makes changes to Wash Rev. Code Chapter 48.110 governing service contracts and protection product guarantees which permit new items to be covered under service contracts and establishes new minimum net worth and financial responsibility requirements for service contract providers.
Read More Locke Lord QuickStudy: New Washington Statutory Financial Requirements for Providers of Service Contracts and Protection Product Guarantees Effective July 28, 2019