Topic: InsurTech

State Insurance Regulators Embracing SupTech

On Thursday April 27, 2023, the Innovation in Technology & Regulation (H) Working Group ‎met to discuss its 2023 Work Plan, the development of a regulator-to-regulator SupTech Forum, ‎a pilot project InsureTech Forum, and to hear a presentation on ChatGPT. The regulators ‎quickly approved the 2023 Work Plan and closed the meeting hearing the presentation on ‎ChatGPT without raising any questions. The substance of the meeting consisted of planning for ‎InsureTech and SupTech Forums.‎

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Illinois Passes Uniform Electronic Transactions Act

Illinois has passed Senate Bill 2176 which is effective as of June 25,2021, repeals the state’s former non-UETA “Electronic Commerce Security Act”, and includes the Uniform Electronic Transactions Act (UETA), making Illinois the 49th state to have adopted UETA and leaving New York as the only non-UETA state.

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