On Friday, May 20, at 11:00am ET, Avi Gesser and Anna Gressel of Debevoise’s Data Strategy & Security Group and Eric Dinallo and Marshal Bozzo of Debevoise’s Insurance Regulatory practice will host Part III of their discussion on Artificial Intelligence and Discrimination in the Insurance Industry. Topics will include: Regulatory developments since Part II of our discussion on Artificial Intelligence…

One of the most significant trends in insurance regulation involves regulators requiring insurers to demonstrate that their use of alternative data (“Big Data”) and artificial intelligence (“AI”) is not discriminatory. On April 20, 2022, the Connecticut Insurance Department (the “Department”) released a notice titled “The Usage of Big Data and Avoidance of Discriminatory Practices” (the “Notice”) addressed to all entities…

On April 26, 2022, the Division of Examinations (“EXAMS”) of the Securities and Exchange Commission (the “SEC”) issued a Risk Alert titled “Investment Adviser MNPI Compliance Issues” (“Risk Alert”) on the use of alternative data.  The Risk Alert outlines EXAMS’ recent observations on compliance deficiencies related to Section 204A of the Investment Advisers Act of 1940—including deficiencies relating to policies…

On March 24, 2022, Utah enacted a comprehensive consumer privacy law, the Utah Consumer Privacy Act (“UCPA”). The UCPA, effective on December 31, 2023, is largely consistent with other comprehensive state privacy laws, but includes several key differences. The UCPA is set to be reviewed by the attorney general who must submit a report to the legislature by July 1,…

Today, it is widely accepted that most large organizations benefit from maintaining a written cybersecurity incident response plan (“CIRP”) to guide their responses to cyberattacks.  For businesses that have invested heavily in artificial intelligence (“AI”), the risks of AI-related incidents and the value of implementing an AI incident response plan (“AIRP”) to help mitigate the impact of AI incidents are…

On April 19, 2022, Kristin Snyder and Charu Chandrasekhar of Debevoise’s White Collar & Regulatory Defense Group, and Avi Gesser and HJ Brehmer of Debevoise’s Data Strategy & Security Group hosted a webcast on the Securities and Exchange Commission’s activity with respect to cybersecurity thus far in 2022. Topics included: How issuers, registered investment advisers, and funds can prepare for…

As more businesses adopt artificial intelligence (AI), directors on many corporate boards are starting to consider their oversight obligations. Part of this interest is related to directors’ increasing focus on Environmental, Social and Governance (ESG) issues. There is a growing recognition that, for all its promise, AI can present serious risks to society, including invasion of privacy, carbon emissions and…

Artificial intelligence (AI) is becoming part of the core business operations at many companies. This widespread adoption of AI has led to a proliferation of corporate “ethical AI” principles and programs, as companies seek to ensure that they are using AI fairly and responsibly, and in a manner consistent with the growing expectations of customers, employees, investors, regulators, and the…