Nevada Division of Insurance Bulletin 24-001: Use of Artificial Intelligence Systems by Insurers (NAIC Model Bulletin)

Summary

The Nevada Division of Insurance issued Bulletin 24-001 on February 23, 2024, following the NAIC Model Bulletin on the Use of AI Systems by Insurers. It applies to all insurers subject to Title 57 of the Nevada Revised Statutes and reminds them that decisions affecting consumers that are made or supported by AI and other advanced analytics must comply with existing insurance law, including unfair trade practice and unfair discrimination law. Insurers are expected to develop, implement and maintain a written AIS program for the responsible use of AI systems in regulated insurance practices, designed to reduce the risk of adverse consumer outcomes. The bulletin also describes the documentation the Division may request in an investigation or examination, including information on specific predictive models, their data and third-party systems.

Key dates

1. 2024-02-23 (date of issue)Takes 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. This bulletin applies to all insurers subject to Title 57 of the Nevada Revised Statutes

   Supports: 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

   Bulletin 24-001 DEPARTMENT OF BUSINESS AND INDUSTRY DIVISION OF INSURANCE February 23, 2024

   Supports: Bulletin number and date

   Bulletin 24-001: Use of Artificial Intelligence Systems by Insurers Nevada Department of Business and Industry, Division of Insurance Primary source

2. Nevada: Bulletin 24-001 – February 23, 2024

   Supports: Listed among state adoptions of the NAIC Model Bulletin

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