On April 22, 2024, the Washington Office of the Insurance Commissioner issued Technical Assistance Advisory 2024-02 regarding “The Use of Artificial Intelligence Systems in Insurance” (the “Advisory”).
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Maryland Issues Bulletin No. 24-11 on the Use of AI in Insurance
Commissioner Kathleen Birrane, Maryland Insurance Administration, on April 22, 2024 issued Bulletin No. 24-11, The Use of Artificial Intelligence Systems in Insurance (the “Bulletin”).
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Kentucky Issues Bulletin 2024-02 on the Use of AI in Insurance
By Paige Waters on
Posted in Artificial Intelligence, United States
On April 16, 2024, the Kentucky Department of Insurance issued Bulletin 2024-02 to all insurers licensed to do business in Kentucky regarding the Use of Artificial Intelligence Systems in the Business of Insurance effective immediately.
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Illinois Appoints New Insurance Director
By Paige Waters on
Posted in United States
Effective April 15, 2024, Illinois will have a new Acting Insurance Director, Illinois State Senator Ann Gillespie. Senator Gillespie will step down from her Senate seat and will need to be confirmed by the Senate in her new position.
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Pennsylvania Adopts NAIC Model Bulletin on the Use of Artificial Intelligence by Insurers
By Paige Waters on
Posted in Artificial Intelligence, United States
On Saturday, April 6, 2024, Pennsylvania adopted 54 Pa.B. 1910 based upon the NAIC Model Bulletin on the Use of Artificial Intelligence Systems by Insurers; Notice 2024-04.
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Colorado Division of Insurance Holds Second Health Insurance Stakeholder Meeting for Implementing AI Requirements
By Paige Waters on
Posted in Artificial Intelligence, United States
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.
Read More Colorado Division of Insurance Holds Second Health Insurance Stakeholder Meeting for Implementing AI Requirements
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
By Paige Waters on
Posted in InsurTech, United States
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
By Paige Waters on
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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Join Us for our Next InsurTech Legal Academy Webinar: Inducements and Rebates for InsurTechs
By Zachary Lerner on
Join Locke Lord, InsurTechNY and InsurTech Hartford for their next InsurTech Legal Academy webinar series on legal and regulatory issues impacting the InsurTech industry. Each quarter, we’ll tackle a new important topic.
Read More Join Us for our Next InsurTech Legal Academy Webinar: Inducements and Rebates for InsurTechs