Colorado DOI Fast-Tracks Big Data Governance Rulemaking

On August 31, 2023, the Colorado Division of Insurance will hold a virtual rulemaking hearing for its proposed regulation on governance and risk management framework requirements for life insurers using external consumer data and information sources, as well as certain algorithms and predictive models (Life Governance Rule). The notice of hearing, issued July 31, included an updated Life Governance Rule previously released on May 26 as part of the DOI’s statutorily mandated stakeholder process….
By: Carlton Fields
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