Chicago Lawyer Speaks to Jay Brudz and Lionel Weaver About the Impact of AI Regulations on Insurance Law

In the article “Brave new world: Insurance bar navigating new tech, regulation regarding AI in the field,” Chicago Lawyer turned to AI-X team co-leader and executive managing director of the firm’s e-discovery subsidiary, Tritura, Jay Brudz, and AI-X team member and insurance counsel Lionel Weaver for their insights on the quickly evolving AI regulation landscape and the AI-X team’s services.

Weaver said the “rugged regulatory landscape” surrounding AI has become “extremely active” over the past few years, citing October legislation from the Colorado Division of Insurance and a model governance bulletin from the National Association of Insurance Commissioners (NAIC) from December.

Weaver and Brudz emphasized the importance of navigating evolving regulatory requirements on a state-by-state basis. Brudz highlighted how, as individual states, including Illinois, weigh adopting the NAIC bulletin, insurers may “face a patchwork of evolving regulatory requirements that vary state by state.”

They also explain the importance of insurers having a flexible and pragmatic strategy to respond to the dynamic legal and regulatory landscape. “By understanding the technology, the regulatory environment, and business imperatives, clients can better optimize their usage of AI while managing their risk profile,” said Brudz.