Binding law — in force
Insurance algorithms must not unfairly discriminate via external data
Colorado life insurers using external consumer data and information sources (ECDIS) or algorithms/predictive models that use ECDIS must establish a documented risk-based governance and risk-management framework to detect and remediate unfair discrimination (esp. by race): governing principles, board oversight, senior-management accountability, a cross-functional governance group, lifecycle policies with training, a consumer-complaint/adverse-decision process, a risk rubric, a versioned model inventory, discrimination testing, model-drift monitoring, vendor-selection processes, and annual reviews. Detect an insurance ECDIS/model decision path with no governance-framework or model-inventory artifact.
co-sb21-169.insurance-ecdis-unfair-discrimination · 3 CCR 702-10, Regulation 10-1-1, Section 5.A · official source · jurisdictions: US-CO