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New York Department of Financial Services Proposes Circular to Address Insurance Companies’ Use of Artificial Intelligence

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

Hackers Targeting Insurance Instant Quote Sites

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

Brave New World: Caution and Clarification for Life Insurance Carriers and Insurtech Partners Using Nontraditional Data

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

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