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ARTICLE · 27 MARCH 2025

EIOPA Consults On Draft Opinion On AI Governance And Risk Management

Arthur Cox
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The European Insurance and Occupational Pensions Authority ("EIOPA") has recently published a consultation paper on its draft opinion on artificial intelligence ("AI") governance and risk management.

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Stephen D'Ardis
Stephen D'Ardis
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The European Insurance and Occupational Pensions Authority ("EIOPA") has recently published a consultation paper on its draft opinion on artificial intelligence ("AI") governance and risk management.

Although the only insurance-specific high risk use-case in the AI Act is the use of AI for risk assessment and pricing in relation to life and health insurance, EIOPA emphasises that other uses of AI systems in insurance will continue to be subject to existing sectoral legislation. The objective of the draft opinion is to provide clarity on the main principles and requirements in insurance sector legislation that should be considered in relation to AI systems used by insurers that are not prohibited or categorised as high-risk under the AI Act.

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This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.

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