The European Union (EU) AI Act became effective in August 2024, after years of negotiations (and some drama). Since entering into force, the AI Act’s implementation has been somewhat bumpy. The initial set of obligations for general-purpose AI (GPAI) providers took effect in August 2025 but the voluntary Code of Practice faced multiple drafting delays. The finalized version was released with less than a month to go before GPAI providers needed to comply with the law.
At Trustible, we understand the challenges insurers face in navigating the evolving AI regulatory landscape, particularly at the state-level in the U.S. That’s why we’re excited to introduce the Trustible US Insurance AI Framework, designed to streamline compliance by synthesizing the latest insurance AI regulations into one comprehensive, easy-to-comply with framework embedded in our platform.
On July 11, 2024, the New York Department of Financial Services (NY DFS) released its final circular letter on the use of external consumer data and information sources (ECDIS), AI systems, and other predictive models in underwriting and pricing insurance policies and annuity contracts. A circular letter is not a regulation per se, but rather a formalized interpretation of existing laws and regulations by the NY DFS. The finalized guidance comes after the NY DFS sought input on its proposed circular letter, which was published in January 2024.
On May 17, 2024, Colorado Governor Jared Polis signed the Consumer Protection for Artificial Intelligence (SB 205) into law, the first comprehensive state AI law that imposes rules for certain high risk AI systems. The law requires that AI used to support ‘consequential decisions’ for certain use cases should be treated as ‘high risk’ and will be subject to a range of risk management and reporting requirements. The new rules will come into effect on February 1, 2026.
In November 2022, Chat GPT brought the AI revolution straight into the hands of everyday consumers. However, if 2022 launched the proliferation and democratization of AI technology, 2023 can be remembered as the year in which policymakers tried to reign in AI. In the U.S., every branch of the federal government has weighed in on […]
On December 9, 2023, European Union (EU) policymakers reached an agreement on the proposed Artificial Intelligence (AI) Act, which sets the stage for the EU to pass the AI Act as early as January 2024. The impending vote on the compromise legislation marks a significant development in the global AI regulatory landscape; one that American […]
What is the NIST AI RMF? The National Institute of Standards and Technology (NIST) Artificial Intelligence Risk Management Framework is a voluntary framework released in 2023 that helps organizations identify and manage the risks associated with development and deployment of Artificial Intelligence. It is similar in its intent and structure to the NIST Cybersecurity Framework […]
Artificial intelligence and geopolitics go hand in hand. On Thursday, July 13th 2023, the Cyberspace Administration of China (CAC) released their “Interim Measures for the Management of Generative Artificial Intelligence Services.” In it, the Chinese government lays out its rules to regulate those who provide generative AI capabilities to the public in China. While many […]
