On October 16, 2024, the NY DFS issued an Industry Letter that explaining “how Covered Entities should use the framework set forth in Part 500 to assess and address the cybersecurity risks arising from AI.”
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Artificial Intelligence
Iowa Insurance Division Releases Proposed AI Bulletin for Comment
By Paige Waters on
On October 10, 2024, the Iowa Insurance Division released for comment a proposed AI Bulletin based upon the NAIC AI Model Bulletin.
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You’re Invited: Complimentary 2024 Insurance Forum
2024 Insurance Forum
October 30, 2024 / 9:00 AM -3:30 PM
Offices of Locke Lord LLP, 111 S. Wacker Drive, 41st Floor, Chicago, IL 60606
In Person Only
Locke Lord is proud to sponsor and host the 2024 Insurance Forum in the Chicago office on October 30. Paige Waters will…
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West Virginia Issued Bulletin No. 24-06 RE: Artificial Intelligence
By Paige Waters on
Posted in Artificial Intelligence, United States
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 Virginia.” The Bulletin does not adopt the entire NAIC Model Bulletin on the Use of AIS by Insurers (“NAIC Bulleting”) verbatim; however, the language and concepts included in the Bulletin and largely track the NAIC Bulletin and often verbatim.
Read More West Virginia Issued Bulletin No. 24-06 RE: Artificial Intelligence
Michigan Issued Bulletin 2024-20-INS RE: Use of AIS in Insurers
By Paige Waters on
Posted in Artificial Intelligence, United States
On August 7, 2024, Michigan issued Bulletin 2024-20-INS on the Use of Artificial Intelligence Systems By Insurers. The Bulletin is applicable to all Insurers, Nonprofit Health Services Plans, HMOs, and Dental Plan Organizations (collectively, “Insurers”) holding certificates of authority to do business in Michigan and is based upon the NAIC Model Bulletin on the Use of AIS by Insurers. …
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Arkansas Issued Bulletin 13-2024 RE: Use of AIS in Insurance
By Paige Waters on
Posted in Artificial Intelligence, United States
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 Bulletin on the Use of AIS by Insurers.
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Virginia Issued Administrative Letter 2024-01 RE: Use of AIS
By Paige Waters on
Posted in Artificial Intelligence, United States
On Monday, July 22, 2024, the Virginia Bureau of Insurance (“Bureau”) issued Administrative Letter 2024-01 on the Use of Artificial Intelligence Systems which is applicable to all companies licensed to conduct the business of insurance in Virginia and all interested parties.
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Nebraska Adopts AI Guidance
By Paige Waters on
Posted in Artificial Intelligence, United States
On June 11, 2024, the Nebraska Insurance Department issued Guidance IGD-H1 on the Use of AI By Insurers. This brings the total to 13 jurisdictions that have adopted the NAIC Model Bulletin on the Use of AI Systems in Insurance.
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DC Adopts Bulletin 24-IB-002-05/21 on the Use of Artificial Intelligence Systems in Insurance
By Paige Waters on
Posted in Artificial Intelligence, United States
On May 21, 2024, the DC Insurance Commissioner, Karima M. Woods, issued Bulletin 24-IB-002-05/21 on the Use of Artificial Intelligence Systems in Insurance to all Insurers licensed to do business in the District of Columbia. …
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Join Us for Our Next InsurTech Legal Academy Webinar: Artificial Intelligence Regulation for InsurTech
By Paige Waters 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 tackle a new important topic impacting InsurTechs. This webinar will address the potential impact of AI Regulation on InsurTechs and give an overview of recent AI regulatory initiatives at the NAIC, state and federal levels.
Read More Join Us for Our Next InsurTech Legal Academy Webinar: Artificial Intelligence Regulation for InsurTech