Commissioner Lara Proposes Minimal Oversight, Secrecy of Black-Box Wildfire Insurance Models, Says Consumer Watchdog

Proposed Regulation Will Raise Rates but Will Not Stop Home Insurance Companies’ Market Boycott LOS ANGELES, April 23, 2024 /PRNewswire/ — Insurance Commissioner Ricardo Lara’s proposal to let insurance companies use private black-box models and AI to predict the risk of catastrophic…