NYDFS Issues Proposed Guidance on AI and External Consumer Data Use

On January 17, 2024, the New York State Department of Financial Services (NYDFS) issued a proposed Circular Letter that provides guidance for authorized insurers using external consumer data and information sources (ECDIS) and artificial intelligence systems (AIS) in underwriting and pricing. NYDFS requests feedback on the draft by March 17, 2024….
By: McDermott Will & Emery