On December 4, 2023, the NAIC adopted a model bulletin entitled “Use of Artificial Intelligence Systems by Insurers”, which is part of the NAIC’s effort to study, and potentially prescribe regulatory requirements that would apply to, the use of AI by the U.S. insurance industry. This bulletin, which is intended to be adopted by individual state insurance departments, sets forth principles-based standards for the practices that licensed insurers that use AI are expected to adopt, and the information that state insurance regulators may request from an insurer regarding its use of AI during an examination or an investigation.