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61 B.C. L. Rev. 2031 (2020)
The New Regulatory Imperative for Insurance

handle is hein.journals/bclr61 and id is 2062 raw text is: THE NEW REGULATORY IMPERATIVE FOR INSURANCE RICK SWEDLOFF INTRODUCTION.......................................................................................................................... 2033 I. THE HOWS AND WHYS OF INSURANCE REGULATION ............................................................ 2037 A. Regulation of Pricing and Pooling................................................................................... 2041 1. Limits on Risk Classification....................................................................................... 2041 2. Traditional Rate Regulation.........................................................................................2045 B. Regulation of Coverage and Forms ................................................................................. 2047 1. Policy Forms ...............................................................................................................2048 2. Mandated or Minimum Coverage ................................................................................ 2049 3. Judicial Regulation ......................................................................................................2051 C. General Oversight ofInsurers and M arkets..................................................................... 2052 1. Solvency......................................................................................................................2052 2. Insurance Intermediaries..............................................................................................2053 3. Market Conduct...........................................................................................................2055 II. INDIVIDUATED PRICES ..........................................................................................................2057 A. AI Stretches Consumer Protections in Risk Classification ............................................... 2057 1. Protecting Vulnerable Groups and the Limits of Risk Classification...........................2058 2. Privacy.........................................................................................................................2061 3. Ow nership of D ata.......................................................................................................2063 B. Price Discrimination........................................................................................................ 2064 1. Insurers and Price Discrimination................................................................................ 2065 2. Price D iscrim ination and Regulatory Puzzles..............................................................2067 III. INDIVIDUATED POLICIES......................................................................................................2070 IV. Al IN THE MARKETPLACE .................................................................................................... 2072 A. Robo-Advisers.................................................................................................................. 2072 B. Fraud Investigations ........................................................................................................2075 1. Post-Claim U nderwriting.............................................................................................2076 2. Al and Policyholder Claim s.........................................................................................2080 CONCLUSION ............................................................................................................................. 2083 2031

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