Overview
Partners Scott Sinder and Tod Cohen, and associates Elizabeth Goodwin and Maria Avramidou authored an article that appeared in Leader's Edge Magazine, "AI Chalk Lines Are Being Drawn." The article discusses the impact of artificial intelligence (AI) in industries such as insurance, where it aids underwriting, customer service, fraud detection, and more, while also highlighting the legal and regulatory challenges it presents. The piece elaborates on recent legal developments, including the adoption of the NAIC Model Bulletin by various US states, the enactment of Colorado's AI law, and the impending adoption of the EU AI Act, which mandates compliance with insurance laws, risk management, and avoidance of algorithmic discrimination among other guidelines. The authors suggest best practices for insurance agents and brokers, such as disclosing AI usage, explaining decision-making processes, ensuring compliance with laws, and preparing for new regulatory obligations in the AI age.
