Bulletin No. 25-03: The Use of Artificial Intelligence Systems in Insurance (New Jersey adoption of the NAIC Model Bulletin)

Summary

New Jersey's Department of Banking and Insurance issued a bulletin, based on the NAIC Model Bulletin on the use of AI systems by insurers, reminding all insurers authorized in the state that decisions affecting consumers that are made or supported by AI systems must comply with insurance law, including unfair trade practice and unfair discrimination law. Insurers are expected to develop, implement and maintain a written AI Systems Program for the responsible use of AI systems that make or support decisions on regulated insurance practices. The bulletin describes the information and documents the Department may request in an investigation or examination.

Key dates

1. February 11, 2025 (date of issue)Takes effect
2. October 16, 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. This bulletin sets forth the Department’s expectations as to how insurers will govern the development/acquisition and use of certain AI technologies, including the AI Systems described herein.

   Supports: Purpose and scope

   all insurers authorized to do business in this state are expected to develop, implement, and maintain a written program (“AIS Program”) for the responsible use of AI Systems

   Supports: Written AIS Program expectation

   February 11, 2025 Justin Zimmerman Date Commissioner

   Supports: Date of issue

   Bulletin No. 25-03: The Use of Artificial Intelligence Systems in Insurance New Jersey Department of Banking and Insurance Primary source

2. on Feb. 11, New Jersey’s Department of Banking and Insurance issued Bulletin 25-03 concerning the use of AI systems in insurance

   Supports: Date and relation to the NAIC Model Bulletin

   Navigating AI in Insurance: Delaware's Bulletin No. 148 and New Jersey's Bulletin 25-03 Taft Stettinius & Hollister Reporting or analysis