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Risk Management Insurance Regulations Consumer Insurance Products

Troutman Pepper Locke

Red Teaming Is an Effective Tool for Insurer Assessment of AI Risks

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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

Troutman Pepper Locke

Florida Bill Eliminating the Surplus Lines Diligent Effort Requirement and a Discussion on Surplus Lines Regulation Trends

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On June 13, Florida Gov. Ron DeSantis signed House Bill 1549 into law. Among other things, the bill has removed the “diligent effort” requirement applicable to surplus lines agents....more

WaterStreet Company

2025 Hurricane Season for Insurance

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As the 2025 hurricane season unfolds, insurance companies prepare. Early summer is time to closely monitor hurricane forecasts, assess risks, and account for financial implications that could arise due to increased property...more

WaterStreet Company

How Insurers Takeout Policies with State Insurance Programs

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State insurance programs serve as critical safety nets. When residents struggle to obtain coverage from private insurers, these programs step in. Private insurers can find a different type of opportunity when willing to take...more

WaterStreet Company

Texas FAIR Plan: Opportunities and Challenges for Private Insurers

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As natural disasters continue to impact the insurance market, Texas has seen a surge in policyholders relying on the Texas FAIR Plan Association for coverage....more

WaterStreet Company

5 Steps to Florida Insurance Takeouts

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Insurers today are in a highly competitive market. To receive greater market share, expansion to new locations and new business strategies may be required. Insurance takeouts are one such strategy in the state of Florida that...more

Quarles & Brady LLP

Nearly Half of States Have Now Adopted NAIC Model Bulletin on Insurers’ Use of AI

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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

Troutman Pepper Locke

New Jersey Adopts Bulletin on AI Use in Insurance

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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

Troutman Pepper Locke

Delaware Insurance Commissioner Navarro Issues Bulletin No. 148 Re: Use of Artificial Intelligence Systems in Insurance

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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

Epstein Becker & Green

Insurers in the Crosshairs: New York Targets Consumer Data and AI-Infused Insurance Underwriting and Pricing

As the implementation and integration of artificial intelligence and machine learning tools (AI) continue to affect nearly every industry, concerns over AI’s potentially discriminatory effects in the use of these tools...more

Carlton Fields

NAIC Innovation, Cybersecurity, and Technology (H) Committee Gets in on the Action

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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

Carlton Fields

Colorado DOI Summer Reading for Life Insurers

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Colorado DOI Summer Reading for Life Insurers - On May 26 — just ahead of the Memorial Day weekend — the Colorado Division of Insurance (DOI) issued for public comment a second draft of its proposed “Governance and Risk...more

Robinson+Cole Data Privacy + Security Insider

Colorado Prepares to Regulate AI and Big Data in Insurance

Colorado is poised to become one of the first states to regulate how insurers can use big data and AI-powered predictive models to determine risk for underwriting. The Department of Insurance recently proposed new rules that...more

Conyers

Conyers Coverage – Cayman Islands – Issue 5

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A very warm welcome to our fifth issue of Conyers Coverage. This issue is a roundup of recent legal and regulatory measures affecting the insurance industry. Among a number of items, Rob has prepared an update on Cayman’s...more

Hogan Lovells

New York regulator issues cyber insurance risk framework with implications for insurers and insureds

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On February 4, the New York Department of Financial Services (NYDFS) released Insurance Circular Letter No. 2 (2021), a Cyber Insurance Risk Framework (Framework) for insurers that write cyber insurance....more

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