The Governance Test for AI in Underwriting
Artificial intelligence is reshaping insurance underwriting.
Submission intake, triage, routine data collection and pricing models for ...
NAIC News
How Gen AI Is Transforming NAIC Reporting Compliance
U.S. insurers face significant operational and compliance challenges as they adapt to evolving NAIC reporting requirements.
With updates ...
NAIC, Legislators Push to Abolish the Federal Insurance Office
Last week, the National Association of Insurance Commissioners announced its agenda for 2025, including the call to eliminate the Federal Insurance Office. This comes on the heels of legislation, the ...
Treasury’s FIO Releases ‘Flawed’ Homeowners Insurance Report, Industry Says
The U.S. Treasury's Federal Insurance Office last week released what it called the "most comprehensive data on homeowners insurance in history." Weeks after a U.S. Senate committee released a study ...
Pennsylvania Issues ‘Expectations’ for Carriers Regarding AI Use
Pennsylvania has issued guidance for insurance companies' use of artificial intelligence systems (AIS) based on a model adopted by the National Association of Insurance Commissioners (NAIC). The ...
NAIC Adopts Climate Resilience Strategy to Close Coverage Gaps, Improve Disaster Recovery
To assist property insurers in reducing losses and speeding up recovery from natural disasters, the National Association of Insurance Commissioners' (NAIC) adopted the first-ever National Climate ...
NAIC Names Bay State Insurance Commissioner as CEO
The National Association of Insurance Commissioners over the weekend announced Massachusetts Insurance Commissioner Gary D. Anderson as the organization's chief executive officer. Anderson will start ...
MGU-Carrier Relationships and AI
The NAIC's model bulletin on carriers' use of Artificial Intelligence Systems, adopted in December 2023, specifically sets out expectations that insurers will describe ...
NAIC’s AI Model Bulletin in Brief
Introducing the idea that regulators encourage the use of innovation and AI Systems while recognizing that such systems present unique risks, such as the "potential for ...
Regulators Run Alongside Speeding AI Train: What the NAIC Model Bulletin Means for Insurers
In an industry where the pace of regulation is often described with references to snails and turtles, the NAIC's adoption of a model bulletin on carriers' use of ...