Black Box Problems, Machine Judgment and the Rules Nobody's Written Yet With Daniel Schwarcz

A conversation with Daniel Schwarcz, professor at the University of Minnesota Law School, where he teaches insurance law, contract law, tort law, and financial regulation and his academic work sits at the intersection of AI governance and insurance regulation. (00:00) - Introduction (00:17) - Guest background: From P&C attorney to insurance law professor (02:13) - AI in insurance today: back-office efficiency vs. underwriting and claims (10:06) - Is AI "locked and loaded" for underwriters and claims departments? (12:24) - The 50-state regulatory problem and its compounding complexity (22:05) - Catastrophe modeling and AI in property underwriting (30:19) - Why disclosure usually forestalls regulation rather than protecting consumers (38:40) - Schwarcz's proposed fix for shadow insurance (43:40) - "Obamacare for Homeowners Insurance": the case for insurance exchanges (48:56) - Five-year outlook: where is the insurance industry headed?