Publication
The next frontier: Offshore wind development in Asia
In the face of significant global headwinds in the sector, green shoots are emerging in 2025 for offshore wind in Asia after a turbulent 24 months.
Global | Publication | February 2025
The UK’s Financial Conduct Authority (FCA) and Prudential Regulation Authority’s (PRA) 2024 survey found that 75 percent of firms are already using artificial intelligence (AI), with a further 10 percent planning to use AI over the next three years.
Moving into 2025, AI and AI regulation will continue to play a key role in the insurance sector as new applications of generative AI are rolled out, while more traditional AI methods persist in areas such as actuarial analysis, underwriting, or identifying fraud.
Shaping the sector
The benefits of such AI applications in the insurance market, will be balanced against the increasing regulatory complexity around its use. The EU AI Act will apply from February 2025. A swathe of other new legislation in the EU and elsewhere will apply alongside existing legislation, making the regulatory landscape a complex one to navigate for an industry that is already heavily regulated.
Careful examination
The insurance sector is also one where authority is frequently delegated to other parties, such as coverholders or claims handlers. These agents may wish to exercise their discretion to use AI, or insurers may look to require their agents to use a particular AI tool. In either scenario, the extent to which regulatory obligations apply to insurers acting as principals will vary. It will be necessary for insurers to examine the wording of any legal obligations for which the activity may be in scope, as it is possible they might incur obligations in relation to their agents’ use of AI. This is in addition to any contractual, tortious, or strict liability that could arise for them.
Key AI developments around the world
This article will look at the key AI regulatory developments for insurers to be aware of in 2025 across key regions including the EU, the UK, Germany, Singapore, Hong Kong, Canada, Australia, the US, South Africa and the Middle East.
Managing AI risk
There are steps insurers can proactively take to manage their regulatory risk through their AI governance programmes, and we provide helpful guidance around these steps.
Publication
In the face of significant global headwinds in the sector, green shoots are emerging in 2025 for offshore wind in Asia after a turbulent 24 months.
Publication
Charlotte Hillyard, Senior Innovation Lawyer in the Innovation Design and Technology team and one of Norton Rose Fulbright's Generative AI leads, will be sharing her insight at several prominent legal technology events in the coming week.
Publication
On 6 March 2025, the National Development and Reform Commission (NDRC), the Ministry of Industry and Information Technology (MIIT), the Ministry of Commerce (MOFCOM), the National Data Administration and the National Energy Administration (NEA) jointly released Opinions on Promoting High-quality Development of the Renewable Energy Green Electricity Certificate Market (关于促进可再生能源绿色电力证书市场高质量发展的意见) (the Opinions).
Subscribe and stay up to date with the latest legal news, information and events . . .
© Norton Rose Fulbright LLP 2025