VT | The Vermont Department of Financial Regulation has issued Insurance Bulletin No. 229.
This bulletin is issued to remind all Insurers that hold certificates of authority to do business in the state of Vermont that decisions or actions impacting consumers that are made or supported by advanced analytical and computational technologies, including Artificial Intelligence (AI) Systems, must comply with all applicable insurance laws and regulations. This includes those laws that address unfair trade practices and unfair discrimination. This bulletin sets forth the expectations as to how Insurers will govern the development/acquisition and use of certain AI technologies. This bulletin also advises Insurers of the type of information and documentation that the Department may request during an investigation or examination of any Insurer regarding its use of such technologies and AI Systems