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Locke Lord is a global law firm that publishes blogs covering a wide range of legal practice areas and industries. Its content addresses topics such as energy, financial services, health care, insurance, private equity, real estate, bankruptcy, construction, corporate law, consumer financial services, employee benefits, environmental law, finance and banking, government and regulatory matters, and intellectual property. The firm provides insights on regulatory developments, litigation, transactional matters, and industry-specific challenges, including emerging issues like artificial intelligence in insurance. The blog serves as a resource for legal professionals and clients seeking updates and analysis on complex legal and regulatory topics across multiple sectors.
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NAIC Privacy Protections Working Group’s Path Forward
Yesterday, the Privacy Protections (H) Working Group of the National Association of Insurance Commissioners (“NAIC”) held its first meeting since the Spring National Meeting in March. The working group seeks public comment on its path forward as it reconsiders its…
Excess and Surplus Lines Law Manual 2024 Update
We are happy to provide the 2024 edition of our Excess and Surplus Lines Law Manual. This edition reflects all of the pertinent changes in the surplus lines laws and regulations of the 50 states and U.S. territories during the…
Washington Issues Technical Assistance Advisory 2024-02 Regarding the Use of AI in Insurance
On April 22, 2024, the Washington Office of the Insurance Commissioner issued Technical Assistance Advisory 2024-02 regarding “The Use of Artificial Intelligence Systems in Insurance” (the “Advisory”). The Advisory applies to “all Insurers.” The Advisory is based upon the “NAIC…
Maryland Issues Bulletin No. 24-11 on the Use of AI in Insurance
Commissioner Kathleen Birrane, Maryland Insurance Administration, on April 22, 2024 issued Bulletin No. 24-11, The Use of Artificial Intelligence Systems in Insurance (the “Bulletin”). The Bulletin applies to “all Insurers, Nonprofit Health Service Plans, Health Maintenance Organizations, and Dental Plan…
Kentucky Issues Bulletin 2024-02 on the Use of AI in Insurance
On April 16, 2024, the Kentucky Department of Insurance issued Bulletin 2024-02 to all insurers licensed to do business in Kentucky regarding the Use of Artificial Intelligence Systems in the Business of Insurance effective immediately.
Read the bulletin.
The…
Illinois Appoints New Insurance Director
Effective April 15, 2024, Illinois will have a new Acting Insurance Director, Illinois State Senator Ann Gillespie. Senator Gillespie will step down from her Senate seat and will need to be confirmed by the Senate in her new position.
Read…
How Will the NAIC Regulate Third-Party Data and Modeling Vendors?
Over the weekend, the NAIC’s Third-Party Data and Models (H) Task Force released for a 30-day comment period (the comment period expires Monday May 6, 2024) a proposed work plan to develop a framework for the regulatory oversight of “third-party…
Pennsylvania Adopts NAIC Model Bulletin on the Use of Artificial Intelligence by Insurers
On Saturday, April 6, 2024, Pennsylvania adopted 54 Pa.B. 1910 based upon the NAIC Model Bulletin on the Use of Artificial Intelligence Systems by Insurers; Notice 2024-04. Pennsylvania joins Alaska, Connecticut, Illinois, New Hampshire, Nevada, Rhode Island and Vermont in…
NAIC Accelerated Underwriting Working Group Racing Ahead with Regulatory Guidance
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…