Recent NAIC Model Bulletin on Use of Artificial Intelligence Systems by Insurers
Guiding Principles, Required Practices and Documentation, Enforcement, Impact on Bad Faith or Coverage Litigation
Recording of a 90-minute CLE video webinar with Q&A
This CLE webinar will offer guidance to insurance practitioners about the impact of both the National Association of Insurance Commissioners (NAIC) Model Bulletin: Use of Artificial Intelligence Systems by Insurers and various state counterparts. A policyholder attorney and a regulatory and litigation insurer attorney will walk practitioners through the NAIC Model Bulletin and review the risks it is designed to mitigate, the Bulletin's solutions and enforcement mechanisms, and the extent to which the practices and documentation being required will become relevant and discoverable in bad faith or coverage litigation.
Outline
- Defining AI as used in the Bulletin: automation and big data versus true AI
- Guiding principles of NAIC Bulletin
- Fairness and ethical use of AI
- Accountability
- Compliance with state laws and regulations
- Transparency
- Key provisions
- Written program
- Governance principles
- Risk management and internal controls
- Third-party vendor management
- State guidance
- NYDFS
- California
- Colorado
- Texas
- Connecticut
- Potential Impact on insurance litigation
Benefits
The panel will address these and other key questions:
- What are the four risks addressed by the NAIC Bulletin?
- How does the NYDFS Circular differ from the NAIC Bulletin?
- What does a compliant AIS program look like?
Faculty
Robert M. Horkovich
Managing Shareholder
Anderson Kill
Mr. Horkovich focuses his practice on the area of insurance recovery. He has obtained over $5 billion in... | Read More
Mr. Horkovich focuses his practice on the area of insurance recovery. He has obtained over $5 billion in settlements and judgments from insurance companies for his clients over the past decade. He is a trial lawyer with substantial experience in trying complex insurance coverage actions on behalf of corporate policyholders and governmental entities.
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Elizabeth P. Retersdorf
Partner
Day Pitney
Ms. Retersdorf advises clients in complex commercial disputes and regulatory matters, with a focus on insurance and... | Read More
Ms. Retersdorf advises clients in complex commercial disputes and regulatory matters, with a focus on insurance and reinsurance issues. She represents plaintiffs and defendants in complex insurance and reinsurance disputes, both litigating and arbitrating actions involving contribution and subrogation claims, disputes regarding retrospective premiums, actions for rescission or reformation, disputes arising from asbestos and other product liability claims, and disputes concerning treaty and facultative reinsurance claims. Ms. Retersdorf has represented clients in multiple state and federal jurisdictions, including Connecticut state courts, and the Districts of Connecticut, D.C., Delaware and New Jersey, as well as in commercial arbitration.
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