Bulletin 2024-20-INS: The Use of Artificial Intelligence Systems in Insurance (NAIC Model Bulletin adopted by the Michigan Department of Insurance and Financial Services)

Summary

The Michigan Department of Insurance and Financial Services issued Bulletin 2024-20-INS on August 7, 2024, its version of the NAIC Model Bulletin on insurers' use of AI. It reminds insurers authorized in Michigan that decisions affecting consumers that are made or supported by AI systems must comply with existing insurance law, including the rules on unfair trade practices and unfair discrimination. It sets the regulator's expectations for a written AI systems program (governance, risk management, internal controls and oversight of third-party AI vendors) and describes the information the regulator may request in an investigation or market conduct examination. This record covers the bulletin only; it is regulatory guidance, not a statute.

Key dates

1. August 7, 2024Takes effect
2. October 16, 2026Checked against sources
3. October 21, 2026Checked against sources

Developments are added when the record is reviewed. Next review: January 15, 2027.

Evidence

Each passage is quoted from its source. The quoted passages are re-checked against the live pages every month.

1. FOR IMMEDIATE RELEASE: August 7, 2024 (LANSING, MICH) The Michigan Department of Insurance and Financial Services (DIFS) has issued a new bulletin that will help ensure consumers are protected when insurance companies use Artificial Intelligence (AI) technologies

   Supports: Issuer, issue date, subject

   DIFS Issues Bulletin to Address Use of AI in the Insurance Industry Michigan Department of Insurance and Financial Services Primary source

2. Michigan: Bulletin 2024-20-INS – August 7, 2024

   Supports: Bulletin number and date

   Locke Lord QuickStudy: Artificial Intelligence State Insurance Regulation, A Year in Review Troutman Pepper Locke Reporting or analysis