Read about the recent controversy surrounding the rescission of actuarial principles by the Casualty Actuarial Society (CAS) and its potential implications for insurance regulations. Discover why regulators and consumer groups are concerned about the decision and what actions are being taken to address the issue.
A task force of the National Association of Insurance Commissioners is asking the board of directors of the Casualty Actuarial Society to reverse a decision rescinding a “statement of principles” of the profession, Carrier Management recently reported.
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Jonathan Godfread, North Dakota’s commissioner, told an audience at the InsurTech NY Spring Conference 2021 this week, “The biggest benefit that I see coming is the ability to truly remove some of that inherent human bias,” during a session titled “Regulatory Trends for AI and Algorithm Bias.”
For the full article on this recent development regarding insurance actuaries by Carrier Management on Insurance Journal’s website, click here.