The Accelerated Underwriting (A) Working Group of the National Association of Insurance Commissioners (“NAIC”) met on April 3, 2024, to discuss its workplan for finalizing proposed regulatory guidance for approval at the Summer National Meeting in August. A drafting group
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NAIC Cybersecurity Working Group Adds Cyber Coverage to its Focus
By Daniel Barry
Over the last few years, the work of the Cybersecurity (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) has focused on cybersecurity risk to insurance licensees such as insurance carriers, insurance intermediaries,[1] and third-party service providers…
Rhode Island Adopts NAIC AI Model Bulletin
By Daniel Barry
In recent weeks a number of states have adopted the Model Bulletin: Use of Artificial Intelligence Systems by Insurers (the “Model Bulletin”) adopted last December by the National Association of Insurance Commissioners (“NAIC”). Alaska[1] was the first state to…
How Will the NAIC Regulate Third-Party Data and Models?
By Daniel Barry
The National Association of Insurance Commissioners (“NAIC”) has created a new Third-Party Data and Models (H) Task Force which is charged with developing and proposing a framework for the regulatory oversight of third-party data and predictive models. At the Spring…
NAIC Technology Groups Ramping Up Before the Spring National Meeting
By Daniel Barry
The National Association of Insurance Commissioners (“NAIC”) will convene next month in Phoenix, Arizona, for its Spring National Meeting. The Innovation, Cybersecurity, and Technology (H) Committee (the “H Committee”) and its working groups are ratcheting up their work in anticipation…
Oklahoma PBM Law’s Uncertain Appeal to the Supreme Court
By Daniel Barry
On January 2, 2024, the United States Court of Appeals for the Tenth Circuit (“Tenth Circuit”) denied the State of Oklahoma’s motion for a stay pending appeal to the United States Supreme Court and one week later transferred jurisdiction back…
Tenth Circuit Denies En Banc Hearing in PBM Case, Will the Supreme Court Hear the Case?
By Daniel Barry
On December 12, the United States Court of Appeals for the Tenth Circuit (“Tenth Circuit”) denied en banc hearing to the Attorney General of the State of Oklahoma in Pharmacy Care Management Association v. Mulready.[1] The Oklahoma Attorney General’s…
NAIC H Committee Pre-Fall National Meeting
By Daniel Barry
This coming Friday the Big Data & Artificial Intelligence (H) Working Group, the Privacy Protections (H) Working Group, and the Innovation, Cybersecurity, and Technology (H) Committee will all meet as part of the Fall National Meeting of the National Association…
Colorado Proposes Guidance Bulletins for Life Algorithms & Predictive Models Regulation
By Daniel Barry
On November 20, 2023, the Division of Insurance of the Colorado Department of Regulatory Agencies (“DORA”), published for a 9 day public comment period two proposed bulletins which would provide clarifying guidance on the implementation of Colorado Insurance Regulation 10-1-1…
NAIC Approaching the Finish Line on Health Insurance Lead Generators
By Daniel Barry
The Antifraud (D) Task Force of the National Association of Insurance Commissioners (“NAIC”) met on October 20, 2023, to discuss comments received on the August 20 draft revisions to the Model Unfair Trade Practices Act (#880) which would expand the…