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This coming Friday the Massive Knowledge & Synthetic Intelligence (H) Working Group, the Privateness Protections (H) Working Group, and the Innovation, Cybersecurity, and Know-how (H) Committee will all meet as a part of the Fall Nationwide Assembly of the Nationwide Affiliation of Insurance coverage Commissioners (“NAIC”) in Orlando, Florida. Knowledge use, knowledge retention, and synthetic intelligence (“AI”) would be the huge matters on the Fall Nationwide Assembly. Different H Committee affiliated working teams won’t be assembly on the Fall Nationwide Assembly; nevertheless, these working teams met earlier over the autumn and are shifting their workstreams ahead.
- Massive Knowledge & Synthetic Intelligence (H) Working Group
This working group will meet Friday morning, among the many common reviews on federal and worldwide exercise, the working group will obtain a report on the life insurance coverage AI/ML (machine studying) survey. This follows two prior surveys on non-public passenger auto (December 2022) and residential (August 2023) enterprise traces.
- Cybersecurity (H) Working Group
This working group won’t be assembly on the Fall Nationwide assembly; nevertheless, they met earlier this month. The working group distributed a revised model of the draft Cybersecurity Occasion Response Plan reflecting feedback acquired earlier within the fall. The aim of this response plan is “to help Departments of Insurance coverage (DOIs) of their response following notification or in any other case turning into conscious of a cybersecurity occasion at a regulated insurance coverage entity (licensee).” The revisions to the prior draft largely pertain to the lead state idea, licensees’ obligation to complement info offered to DOIs, confidentiality, and coordination between DOIs and affected licensees when speaking to customers. Whereas a proper remark interval has not been opened, written feedback are inspired, and not less than another formal remark interval is anticipated earlier than adoption sooner or later in 2024.
- E-Commerce (H) Working Group
This working group won’t be assembly on the Fall Nationwide Assembly; nevertheless, they met earlier this month. The working group mentioned its revised E-Commerce Modernization Information, previously titled E-Commerce (H) Working Group Framework.[1] The revised model eliminated sections pertaining to AI, promoting, and telematics in recognition that these matters are addressed by different NAIC workstreams, leading to a extra centered information emphasizing e-signatures, notaries, and client disclosures relating to cancellations, replacements, and so on. Business commenters are typically supportive of the draft information although a number of commenters expressed a choice for a proper bulletin or steerage. The working group anticipates assembly early subsequent yr, and should undertake the information at the moment.
- Privateness Protections (H) Working Group
This working group will meet on Friday on the Fall Nationwide Assembly. They final met on the Summer time Nationwide Assembly the place they placed on maintain consideration of a unitary privateness safety mannequin (#674). In October, the working group acquired a referral relating to applicability of the proposed mannequin to danger retention teams (“RRGs”) and launched a course of for shifting ahead doc, each of which might be thought-about on the Fall Nationwide Assembly. Earlier this month, the H Committee accredited an extension of the working group’s work on the privateness mannequin into subsequent yr.
The working group may even hear a presentation evaluating the privateness dangers of legacy v. non-legacy techniques.
As talked about above, the H Committee met earlier this month. At that assembly the Committee mentioned feedback acquired on the Use of Synthetic Intelligence Programs by Insurers Mannequin Bulletin which the H Committee is anticipated to undertake later this week on the Fall Nationwide Assembly.
Locke Lord will proceed to observe developments throughout the H Committee and its working teams. You probably have any questions, please attain out to the creator or your Locke Lord associate.
For earlier Locke Lord commentary on these matters please see under:
Locke Lord QuickStudy: Insurance Regulators Continue to Grapple with the Rapid Development and Use of Artificial Intelligence by Paige Waters and Stephanie O’Neill Macro, August 16, 2023
NAIC’s Work on Privacy Model Grinds On by Daniel Barry, August 14, 2023
What’s in the NAIC’s Draft AI Model Bulletin by Paige Waters and Stephanie O’Neill Macro, August 8, 2023
NAIC Picking Up Steam as it Drafts New Privacy Model by Daniel Barry, June 5, 2023
[1] The origin of this work was a survey inquiring about on-line transactions permitted throughout the pandemic that facilitated digital commerce in ways in which can be useful to proceed. The work expanded to consideration of roadblocks to efficient implementation of e-commerce methodologies that profit customers.
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