In December 2023, the National Association of Insurance Commissioners (NAIC) adopted a Model Bulletin on the Use of Artificial Intelligence (AI) Systems by Insurers. The model bulletin reminds insurance carriers that they must comply with all applicable insurance laws and regulations (e.g., prohibitions against unfair trade practices) when making decisions that impact consumers, including when those decisions are made or supported by advanced technologies, such as AI systems. To date, 11 states have adopted the model bulletin, thereby applying the standards to insurers that operate in the states.
State Regulators Address Insurers’ Use of AI: 11 States Adopt NAIC Model Bulletin
By Gregory Mitchell and Emily Curran on June 25, 2024
Posted In Digital Health, Health and Welfare Plans
