Regulating AI in Insurance and Beyond: Are Colorado’s New Rules and “High-Risk” Law National Bellwethers?
Description:
With the finalization last fall of a rule for life insurers’ use of algorithms and predictive models that employ external consumer data, and the adoption of a law that governs businesses’ deployment of “high-risk” systems, Colorado has become a trend setter in artificial intelligence regulation. Both the rule and the law impose requirements designed to prevent the consequential use of technology from unintentionally discriminating against certain protected classes. Join us as we put these developments into a broader, national perspective and discuss the legal risk-management implications for insurers and other businesses that harness the power of AI.
Panelist
-
Scott is a Partner practicing in the Indianapolis, IN office of Faegre Drinker Biddle & Reath LLP. His practice focuses on artificial intelligence, big data, and algorithms, especially as to their impact on insurers, reinsurers, and financial-services entities, at the federal and state levels. He helps clients assess their algorithms for unintended bias and implement risk management strategies to minimize regulatory, litigation, and reputational exposure. Scott is a past Chair of the Federation of Regulatory Counsel, past Chair of the Insurance Regulation Committee of the ABA's Torts, Trial, and Insurance Practice Session, and has briefed the National Association of Insurance Commissioners the benefits and risks of artificial intelligence.
- Learn More