The Standard Formula Podcast | Assessing Prudential Solvency Regimes in the Middle East
The Standard Formula Podcast | Assessing Prudential Insurance Regulation in Japan
The Standard Formula Podcast | Unpacking the IAIS’ Adoption of the Insurance Capital Standard
The Standard Formula Podcast | The SFCR and Other Public Reporting: A Solvency II Cornerstone
The Standard Formula Podcast | Bermuda Monetary Authority Proposes Enhancements to its Regulatory Regime
Earlier this year, noting “the recent increase in the number of reciprocal exchanges being formed and challenges in assessing the fairness and reasonableness of attorney-in-fact fees being charged to the newly formed...more
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
Insurance commissioners serving as liquidators of insolvent insurance companies should be mindful of the potential for personal liability arising under the Federal Priority Act (FPA) and potential solutions through model...more
During the NAIC Spring National Meeting, the Big Data and Artificial Intelligence (H) Working Group reviewed its blueprint to build an overarching regulatory edifice to oversee insurers’ use of artificial intelligence...more
The Maynard Nexsen Insurance Regulatory team of attorneys attended the National Association of Insurance Commissioners (NAIC) Spring National Meeting held on March 23-26 in Indianapolis, Indiana. As expected, regulators,...more
As of March 2025, 24 states have adopted the National Association of Insurance Commissioners (NAIC) Model Bulletin on the Use of Artificial Intelligence (AI) Systems by insurers with little to no material changes. As we...more
AT A GLANCE - The NAIC Risk-Focused Surveillance (E) Working Group (RFSWG) met via teleconference on February 26, 2025 and initiated a new project relating to the management fees paid by reciprocal interinsurance exchanges...more
Welcome to the latest issue of Insurance Insights, a gathering of notable legal developments and trends relevant to the insurance industry. In this issue, fires alter the landscape of California insurance, an expert’s...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
Regulators are growing concerned about the delegation of various insurance company functions, prompting a closer examination of third-party vendors. Several groups within the National Association of Insurance Commissioners...more
State regulators are taking action on the use of artificial intelligence in insurance. To date, nearly a dozen states have adopted some form of the National Association of Insurance Commissioners (NAIC) Model Bulletin on the...more
On July 17, the Innovation, Cybersecurity, and Technology (H) Committee of the National Association of Insurance Commissioners released its exposure draft of the NAIC’s model bulletin on insurers’ use of algorithms,...more
Insurance carriers will find the following topics, recently discussed at the National Association of Insurance Commissioners (NAIC), relevant to capital management, financial risk, solvency and similar “prudential” issues,...more