California Insurance Commissioner Ricardo Lara on Friday announced what he’s calling “first of its kind” catastrophe modeling and ratemaking regulation that will allow carriers to use the models as a factor in setting and getting rates. The regulation is a part of his so-called Sustainable Insurance Strategy to increase coverage in wildfire-distressed areas of the … Read more
By William Nibbelin, Senior Research Actuary, Triple-I According to a new study by the Insurance Research Council (IRC), the rate filing process for personal auto insurance has become more inefficient and ineffective, taking longer to achieve rate approval with higher occurrence of approved rate impact lower than filed rate impact and a larger disparity between … Read more
Stephen Weatherill Jacques Delors Professor of European Law (Emeritus), Faculty of Law and Somerville College, University of Oxford Photo: Lassana Diarra, by Рыбакова Елена, on Wikimedia Commons In preparing this paper I have benefited from discussion with and comments by (in alphabetical order) Jean-Louis Dupont, Peter Heermann, Guillermo Íñiguez, Jacob Kornbeck, Miguel Maduro, Petros … Read more
Maryna Manteghi, PhD researcher, University of Turku, Finland Photo credit: mikemacmarketing and Liam Huang, on Flickr via Wikimedia Commons Background The Artificial Intelligence Act (AIA), “the first-ever legal framework on AI, which addresses the risks of AI and positions Europe to play a leading role globally” (according to the … Read more
The UK Government has recently published its official response (the ‘response’) to the public consultation of March 2023 on its ‘pro-innovation approach’ to AI regulation (for an initial discussion, see here). The response shows very little movement from the original approach and proposals and, despite claiming that significant developments have already taken place, it mainly … Read more
