On July 7th, the NAIC’s Big Data and AI Working Group (Working Group) exposed a draft of an AI Systems Evaluation Tool (Evaluation Tool). The stated purpose is to provide regulators with a tool that enables them to identify...more
7/30/2025
/ Algorithms ,
Artificial Intelligence ,
Compliance ,
Consumer Protection Laws ,
Data Collection ,
Financial Services Industry ,
Insurance Industry ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
Technology
On November 1, 2023 the Department of the Treasury’s Federal Insurance Office (FIO) formally submitted a request to proceed with a climate-related financial risk data collection for homeowners’ multi-peril underwriting data...more
On January 18, 2019, the New York Department of Financial Services (NYDFS) issued a circular letter to all insurers authorized to write life insurance in New York State setting out the Department’s views concerning the use of...more
2/27/2019
/ Anti-Discrimination Policies ,
Data Collection ,
Disclosure Requirements ,
Geographic Markets ,
Insurance Industry ,
Life Insurance ,
NYDFS ,
PHI ,
Regulatory Oversight ,
Third-Party ,
Underwriting
On May 24 and 25, the National Association of Insurance Commissioners (the NAIC) Cybersecurity (EX) Task Force (the Task Force) hosted a meeting in which state insurance commissioners and interested parties were invited to...more