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Artificial Intelligence Insurance Industry Today's Popular Updates

Zelle  LLP

AI Update: Chatbot Errors? – There’s a Policy for That!

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In a remarkable development revealing the increasing integration of Artificial Intelligence into business operations, insurers at Lloyd’s of London have launched focused coverage for losses caused by artificial intelligence...more

Kilpatrick

5 Key Takeaways | Managing the Risks in Using Generative AI or How I Learned to Stop Worrying and Love AI

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Kilpatrick's Steve Borgman and Jordan Glassman recently presented on the various generative AI technologies available, with an emphasis on large language models such as ChatGPT (and others that are similar), at Kilpatrick’s...more

Laughlin, Falbo, Levy & Moresi LLP

Artificial Intelligence - The Implications of Machine Learning in Workers' Compensation

The use of artificial intelligence (AI) technology in the workers’ compensation arena is on the horizon. Given the scale of AI applications and the speed at which the technology is developing and being applied, AI has the...more

DLA Piper

California Implements New AI and Software Regulations for Insurers

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On September 28, 2024, California enacted SB 1120, which regulates the use of artificial intelligence (AI), an algorithm, or “other software tool” in utilization review and utilization management (UR/UM) functions by...more

Walkers

Global Legal Insights FinTech 2024: Ireland chapter

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The Irish government has been supportive of the development of the financial services sector in Ireland and this extends to fintech. The government’s strategy for the development of Ireland’s international financial services...more

Foley & Lardner LLP

Artificial Intelligence in Health Care: Key Considerations for Oncology

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Artificial intelligence (AI) has the power to revolutionize health care. In oncology, there are now opportunities to apply AI to support diagnostics, predictive analytics, and administrative functions. This hot topic was...more

Sheppard Mullin Richter & Hampton LLP

The Intersection of Artificial Intelligence and Utilization Review

California is among a handful of states that seeks to regulate the use of artificial intelligence (“AI”) in connection with utilization review in the managed care space. SB 1120, sponsored by the California Medical...more

Eversheds Sutherland (US) LLP

Connecticut Insurance Department adopts NAIC model bulletin on AI

On February 26, 2024, the Connecticut Insurance Department (the CID) adopted Bulletin No. MC-25 on the “Use of Artificial Intelligence Systems in Insurance” (Connecticut Bulletin). This Connecticut Bulletin is similar to the...more

K&L Gates LLP

Navigating the New Frontier: Insurance for Artificial Intelligence Risks

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On 27 December 2023, The New York Times filed a lawsuit against OpenAI and Microsoft alleging copyright infringement in connection with OpenAI’s popular ChatGPT technology. This lawsuit is part of the first wave of...more

ArentFox Schiff

Eight Issues That Will Impact the Hospitality Industry in 2024

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After seemingly bouncing back from the challenges posed by the COVID-19 pandemic and related labor, supply chain, and governmental mandate issues, the hospitality industry experienced a year of volatility in 2023, with...more

J.S. Held

2024 J.S. Held Global Risk Report: New Laws Addressing the Risks and Rewards of Artificial Intelligence (AI)

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The race to develop AI and calls to regulate it are heating up around the world. In November 2023, 28 countries, including the United States, United Kingdom, China, and the European Union, met and pledged to work together to...more

Clark Hill PLC

New York Department of Financial Services Proposes Circular to Address Insurance Companies’ Use of Artificial Intelligence

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On Jan. 17, the New York Department of Financial Services (“NYDFS” or “Department”) issued for public comment a proposed circular letter (“Circular”) for addressing the use of artificial intelligence systems (“AIS”) and...more

Troutman Pepper Locke

Artificial Intelligence Regulation in the ‎Insurance Industry – 2023 a Year in Review

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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

Bricker Graydon LLP

Artificial Intelligence - There's Nothing Fake About It

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Artificial Intelligence (AI) has become ubiquitous in today’s corporate lexicon. And while much has been said, and written, about AI, the question still remains: what, exactly, is AI? Or, more aptly for this discussion, what...more

Rothwell, Figg, Ernst & Manbeck, P.C.

Regulating AI: Litigation Questions And State Efforts To Watch

This second part of a two-part series on U.S. regulation of artificial intelligence systems highlights state legislation and litigation to watch concerning AI systems, and provides practical takeaways as we look toward the...more

Foley & Lardner LLP

My Employees Are Using ChatGPT. What Now?

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In the rapidly evolving world of artificial intelligence (AI), one development stands out for its transformative potential: the rise of generative AI tools. Many major technology companies are building the large language...more

A&O Shearman

Artificial Intelligence in insurance – innovating in a world of increased regulation

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The potential benefits of deploying artificial intelligence (AI) (and in particular, machine learning (ML) techniques) within the insurance industry have been the subject of much market discussion and increased focus over...more

Foley Hoag LLP

CFIUS Year in Review

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CFIUS reviewed a record number of transactions in 2021 according to its most recent annual report – and shows no signs of slowing down. High technology (including quantum computing), life sciences, and green energy...more

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: NIST Releases AI Risk Management Framework and Playbook

Our latest briefing dives into the public launch of the NIST’s long-awaited AI Risk Management Framework, the EEOC’s new plan to tackle AI-based discrimination in recruitment and hiring, and the New York Department of...more

Array

ABA’s Innovation Trends Report: What law firms should know

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Law firms and the legal profession as a whole have the long-held reputation of being slow to innovate andstymied in tradition. In 2016 the American Bar Association launched its Center for Innovation to guide “innovations...more

Faegre Drinker Biddle & Reath LLP

Insurers’ Use of Artificial Intelligence: Opportunities and Challenges

Like most financial services industries, insurance companies and regulators have in recent years increasingly utilized algorithms, machine learning and artificial intelligence in their day-to-day operations. Indeed, a 2019...more

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: Feds Take Aim at Algorithmic Bias

Our latest briefing examines the latest signal that the Federal Trade Commission is considering rulemaking, a groundbreaking settlement between the Justice Department and Meta over allegedly discriminatory algorithms,...more

Hogan Lovells

InsurTech: IVASS launches a survey on the use of Machine Learning algorithms by insurance companies

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IVASS has launched a survey aimed at understanding the use of Machine Learning algorithms by Italian insurance undertakings and Italian branches of non-EU insurance undertakings, which are required to fill in a specific...more

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: Self-Regulation and Tackling Algorithmic Bias

Our latest briefing explores the NAIC’s efforts to address algorithmic bias, the Colorado Division of Insurance’s latest stakeholder session on external consumer data and algorithms, and a private-sector solution for...more

Faegre Drinker Biddle & Reath LLP

Artificial Intelligence Briefing: CFPB, NIST Take Aim at AI Issues

Our latest briefing unpacks important developments at the Consumer Financial Protection Bureau (CFPB) and the National Institute of Standards and Technology (NIST) and other AI-related news at the state and industry level....more

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