On August 20, 2025, the Colorado Division of Insurance (Division) amended Regulation 10-1-1 to expand its existing limited applicability to insurers offering individual life insurance to apply to insurers offering private...more
8/28/2025
/ Algorithms ,
Artificial Intelligence ,
Auto Insurance ,
Health Insurance ,
Insurance Regulations ,
Life Insurance ,
Machine Learning ,
Regulatory Oversight ,
Regulatory Requirements ,
Reporting Requirements ,
Risk Management ,
State and Local Government
The insurance industry is facing increased scrutiny from insurance regulators related to its use of artificial intelligence (AI). Red teaming can be leveraged to address some of the risks associated with an insurer’s use of...more
8/13/2025
/ Artificial Intelligence ,
Consumer Insurance Products ,
Consumer Privacy Rights ,
Corporate Governance ,
Cybersecurity ,
Data Management ,
Innovative Technology ,
Insurance Regulations ,
Machine Learning ,
NAIC ,
NIST ,
NYDFS ,
Regulatory Requirements ,
Risk Management
On March 18, Wisconsin Insurance Commissioner Nathan Houdek issued Wisconsin’s new bulletin on the use of artificial intelligence systems (AIS) in insurance, becoming the 24th state to adopt the NAIC Model Bulletin on the Use...more
The 2025 National Association of Insurance Commissioners (NAIC) President and North Dakota Insurance Commissioner Jon Godfread has stated that...more
On February 11, New Jersey Banking and Insurance Commissioner Zimmerman issued Bulletin 25-03 regarding the use of artificial intelligence systems (AIS) in insurance, applicable to all insurers authorized or admitted in New...more
On February 5, Delaware joined 21 jurisdictions who adopted guidance similar to the NAIC Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers in 2024, and four additional jurisdictions have otherwise...more
2/10/2025
/ Artificial Intelligence ,
Commercial Insurance Policies ,
Consumer Insurance Products ,
Data Privacy ,
Data Security ,
Delaware ,
Insurance Regulations ,
NAIC ,
Regulatory Oversight ,
Regulatory Reform ,
Regulatory Requirements ,
Risk Management
On October 16, 2024, the NY DFS issued an Industry Letter explaining “how Covered Entities should use the framework set forth in Part 500 to assess and address the cybersecurity risks arising from AI.”...more
On Thursday, July 11, 2024, the New York Department of Financial Services (“NYDFS”) issued Circular No. 7 Re: Use of Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting...more
On February 1, 2024, Alaska became the first state to adopt the NAIC Model Bulletin on the Use of Artificial Intelligence Systems by Insurers by issuing a new Bulletin (“Bulletin B 24-01”). Bulletin B 24-01 is effective...more
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,...more