Insurance and Artificial Intelligence Developments: NAIC and Colorado Regulations
Within the scope of recent developments in insurance and artificial intelligence, the NAIC has updated its risk assessment version, while Colorado's ADMTA rules and hearing schedule have become clear.
The transatlantic monthly bulletin on insurance, artificial intelligence, and coverage has announced the release of version 5.0 of the NAIC's AI Risk Evaluation Supplement and new rules prepared under Colorado's Artificial Intelligence and Automated Decision-Making Systems Act (ADMTA).
While developments regarding artificial intelligence integration and regulations in the insurance sector continue, the system evaluation tool prepared by the NAIC's Big Data and Artificial Intelligence Working Group has been updated. The tool was re-released under the name "AI Risk Evaluation Supplement" version 5.0, and a comment period was conducted until September 29, 2026.
On the other hand, the Colorado Attorney General's Office had submitted draft rules implementing the Automated Decision-Making Technology Act (ADMTA) on August 11, 2026. Along with the updated draft text published on October 6, 2026, a hearing and public comment process was scheduled to take place on October 26, 2026.
Sources
- JD Supra · Link