On Dec. 13, 2024, New York Governor Kathy Hochul signed a bill integrating parametric insurance into the state’s existing legal framework for insurance products under the New York Insurance Law (“NYIL”). Assembly Bill A10344...more
On Jan. 17, the New York Department of Financial Services (“NYDFS” or “Department”) issued for public comment a proposed circular letter (“Circular”) for addressing the use of artificial intelligence systems (“AIS”) and...more
The New York Department of Financial Services issued a cybersecurity fraud alert (“Alert”) to all regulated entities, particularly those utilizing public-facing websites that display nonpublic information (“NPI”), even if...more
The New York Department of Financial Services (“DFS”) recently released guidance describing how a life insurer may use so-called “external data,” that is, data not directly related to an applicant’s medical condition, without...more