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How the New York Department of Financial Services (DFS) Regulates Virtual Currency, a Close Look with Special Guest Kaitlin Asrow, Executive Deputy Superintendent of Research and Innovation, DFS
Compliance Into The Weeds - DFS Fines Carnival Cruise Lines for Cyber Failures
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Your Cyber Minute: State influences bring a new dawn of cyber regulations
Your Cyber Minute: Compliance with the Proposed NYDFS Cybersecurity Regulation
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DFS has developed a draft pre-proposal notice regarding proposed amendments to 11 NYCRR 52 (Insurance Regulation 62) which, if adopted, would amend the minimum standards for form, content, and sale of health insurance in New...more
What is TIRSA? The Title Insurance Rate Service Association (TIRSA) is an organization licensed by the New York State Department of Financial Services that provides guidelines for the pricing and availability of title...more
On July 11, 2024, the New York State Department of Financial Services (NYSDFS) adopted a final circular about the "Use of Artificial Intelligence ("AI") Systems and External Consumer Data and Information Sources in Insurance...more
On July 11, 2024, the New York Department of Financial Services (“NYDFS”) released Insurance Circular Letter No. 7, which establishes guidelines on the use of artificial intelligence systems (“AIS”) and external consumer data...more
Our Privacy, Cyber & Data Strategy Group analyzes important guidance from the NYDFS on how insurers use external consumer data and information sources and artificial intelligence systems....more
On July 11, NYDFS issued Insurance Circular No. 7 to address the use of AI systems and External Consumer Data and Information Sources (ECDIS) in the underwriting and pricing of insurance policies in New York State. NYDFS...more
Last week, both the New York Department of Financial Services (“DFS”) and the National Association of Insurance Commissioners (“NAIC”) acted on official guidance pertaining to accelerated underwriting by life insurance...more
On July 11, 2024, the New York Department of Financial Services (“NYDFS”) issued Circular No. 7 Re: Use of Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting and...more
On July 11, 2024, the New York Department of Financial Services (DFS) issued Insurance Circular Letter No. 7 (2024) (Letter No. 7) adopting guidance regarding the use of artificial intelligence (AI) in underwriting and...more
On Thursday, July 11, 2024, the New York Department of Financial Services (“NYDFS”) issued Circular No. 7 Re: Use of Artificial Intelligence Systems and External Consumer Data and Information Sources in Insurance Underwriting...more
On June 24, 2024, the New York Department of Financial Services (“DFS”) issued Insurance Circular Letter No. 6 (2024), informing property and casualty insurers writing and delivering commercial property and liability...more
On June 24, Gov. Kathy Hochul announced guidance issued by NYDFS in Circular Letter No. 6 (2024) informing insurers and related parties that, under the new Insurance Law § 3462, making coverage decisions based on a property’s...more
On May 23, NYDFS issued Insurance Circular Letter No. 3 (2024) which encouraged all insurers – authorized to write property/casualty insurance in New York – to offer loss mitigation tools and services to the insured for free...more
On May 23, 2024, the New York Department of Financial Services (the “Department”) issued Insurance Circular Letter No. 3 (the “Letter”). The Letter is addressed to “all insurers authorized to write property/casualty insurance...more
On April 24, 2024, the New York State Department of Financial Services (NYDFS) published Proposed Rule Making for the 13th Amendment to Insurance Regulation 17, 20 and 20-A (Proposed Amendment), which purports to implement...more
On February 21, 2024, Change Healthcare, a platform that provides certain technology solutions for the health care industry, experienced a nationwide network interruption related to a cybersecurity issue (cyber incident) and...more
New York-domiciled insurers should consider new guidance from the New York Department of Financial Services (DFS) to determine whether they might be exempt from group capital calculation (GCC) requirements. In its proposed...more
On February 21, Superintendent Adrienne A. Harris of the New York State Department of Financial Services (DFS) unveiled a proposed regulation, 11 NYCRR 38. If adopted, this regulation, would establish network adequacy...more
On Jan, 17, 2024 the New York State Department of Financial Services (NYDFS) issued a proposed circular letter addressing the use of artificial intelligence systems (AIS) and external consumer data and information sources...more
On January 17, 2024, the New York State Department of Financial Services (DFS) issued for public comment a proposed circular letter on the use of AIS and external data sources by New York-authorized insurers (the Proposed...more
On January 17, 2024, The New York Department of Financial Services (“DFS”) issued a proposed insurance circular letter regarding insurers’ use of external consumer data and information sources (“ECDIS”) and artificial...more
On January 17, 2024, the New York State Department of Financial Services (“NYDFS”) issued a proposed circular letter for comment regarding the “Use of Artificial Intelligence Systems and External Consumer Data and Information...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
New York’s Department of Financial Services releases proposed guidance on AI and other data sources in insurance underwriting and pricing — and you’ll note plenty of influence from Colorado’s governance regulation and the...more
On January 17, 2024, the New York Department of Financial Services (“NYDFS”) exposed for comment a proposed circular letter regarding “Use of Artificial Intelligence Systems and External Consumer Data and Information Sources...more