NYSDFS Issues Final Circular for Insurers on Artificial Intelligence and External Data Use

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 Underwriting and Pricing” (the “Circular”)….
By: Hinshaw & Culbertson – Privacy, Cyber & AI