Regulation

Advancing AI in Insurance: Navigating Regulatory Trends

Feb 13, 2025 / by AAIS posted in Regulatory/Compliance, Legislation & Regulation, AAIS Webinar Series, NAIC, Regulation, Compliance, AI, Artificial Intelligence

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As artificial intelligence (AI) continues to evolve in the P&C insurance industry, navigating regulatory trends has become increasingly critical to ensuring compliance, maintaining consumer trust, and fostering responsible innovation. In a recent AAIS webinar, industry experts discussed the evolving role of AI in the insurance sector, focusing on its regulatory trends and best practices for responsible adoption. Chris Aufenthie, Director of Regulatory Filings at AAIS, moderated the discussion with insights from Anthony Habayeb, Co-Founder and CEO of Monitaur, and Mary Block, Director of Insurance Regulation at the Vermont Department of Financial Regulation. Together, they explored key topics including trends in AI adoption, practical steps to align with the NAIC AI Bulletin, and strategies to ensure transparency and explainability for regulators and consumers.

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AAIS Webinar ft. Davies: Hurricane Models – Creation, Usage, and Regulation

Jun 28, 2023 / by AAIS posted in AAIS Webinar Series, NAIC, Regulation, hurricanes, catastrophe, NatCats, Actuarial, Davies

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As part of the AAIS Webinar Series, AAIS hosted a virtual presentation on June 13, 2023, featuring AAIS Partner, Davies. Moderated by AAIS Personal Lines Product Manager, Linda Jancik, the session explored how wind models are created, used, and regulated. Featured guest speakers, Greg Fanoe, Director & Consulting Actuary at Davies, Sandra Darby, Property & Casualty Division Actuary at the Maine Bureau of Insurance, and Shaveta Gupta, Catastrophe Risk & Modeling Actuary at the NAIC, discussed how this data is gathered from inside the storm, why it’s collected, and how it is used by insurance carriers to price policies. The panel also analyzed hurricane models from the regulation side, explaining how regulators use this data to develop legislation to further protect consumers and ensure a healthy market.

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Making Wildfire Mitigation Meaningful: AAIS Addresses California’s Mandatory Wildfire Mitigation Credits Regulation

Jun 14, 2023 / by AAIS posted in Personal Lines, AAIS Webinar Series, Regulation, wildfire, Actuarial, California

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As part of the AAIS Webinar Series, AAIS hosted a virtual presentation on June 6, 2023, regarding California’s Mandatory Wildfire Mitigation Credits regulation. AAIS industry leaders, Robin Westcott, Vice President of Government Affairs, Legal & Compliance/General Counsel, Linda Jancik, Product Manager of Personal Lines, Mike Payne, Chief Pricing Actuary, and Matt Hinds-Aldrich, Senior Risk Strategy Lead, presented an overview of how the regulation was addressed across impacted programs from both a product and actuarial perspective. The panel also focused on the consumer notice requirement, highlighting how notice design can help motivate consumer action to complete wildfire mitigations on their properties. Panelists shared a notice template developed in response to this regulation that can easily be used and adapted in response to this regulation.

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How Regulation is Impacting Auto Insurance

Feb 16, 2022 / by Lori Dreaver Munn posted in Community, Issues & Trends, Insurance News/Current Events, Regulatory/Compliance, P&C Insurers, Auto, Commercial Auto, Legislation & Regulation, AAIS News & Views, AAIS Insights, Personal Auto, Regulation, Insurance Line of Business, auto insurance, GLC

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Regulation plays an outsized role in the development of the auto insurance sector. Since the beginning of the pandemic, we have seen an even higher than usual impact from wild fluctuations in rates, claims, premiums, and consumer reimbursements, to activities impacting the industry itself.

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