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The National Association of Insurance Commissioners' (NAIC) model bulletin governing the use of artificial intelligence (AI) by insurers provides guidance on the legal and ethical use of AI within the insurance industry,...more
Pharmacy benefit managers (PBMs) should consider the implications of a model law making its way through the National Association of Insurance Commissioners (NAIC) that would establish a licensure requirement and rules of...more
On June 3, amendments to New York insurance regulations, available here, became effective that will permit the New York Superintendent of Financial Services to act as group-wide supervisor of internationally active insurance...more
As the insurance industry seeks to implement new technology, several NAIC groups and states are addressing the regulatory landscape to evolve with the changes. ...more
The Chair of the National Association of Insurance Commissioners (“NAIC”) Regulatory Framework (B) Task Force recently announced that the Pharmacy Benefit Manager Regulatory Issues (B) Subgroup’s (“PBM Subgroup”) will...more
In response to the accelerating pace of change, the NAIC’s Summer National Meeting in Boston focused on innovation and insurtech....more
Rhode Island adopted the NAIC Credit for Reinsurance Model Regulation in 2014. Recently, Rhode Island made technical changes to the regulation and substituted forms issued by the Rhode Island Department of Insurance by...more
Effective July 24, 2018, New Mexico adopted the NAIC Credit for Reinsurance Model Regulation. New Mexico adopted the Model Rule as “part of a broad effort to modernize reinsurance regulation and to conform with the...more
On July 13, 2018 Alaska became the last state to incorporate amendments to the NAIC Credit for Reinsurance Model Law into its insurance code when Governor Bill Walker (I) signed House Bill 401 into law....more
The NAIC has published proposed revisions to the Credit for Reinsurance Model Law and the Credit for Reinsurance Model Regulation that are intended to facilitate compliance by the states with the provisions of the Covered...more
On May 3, Governor Henry McMaster signed the South Carolina Insurance Data Security Act, making South Carolina the first state to adopt the NAIC Insurance Data Security Model Law....more
The California Department of Insurance (DOI) has adopted a set of amendments, effective January 1, 2018, to its regulations regarding reinsurance accounting, agreements and oversight. These changes were made to conform the...more