News & Analysis as of

NYDFS Regulatory Standards Insurance Industry

Clark Hill PLC

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

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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

McDermott Will & Emery

Awaiting Regulation of AI in Insurance

With the recent news that the Association of British Insurers (ABI) has called for new rules to reflect the increased use of AI and machine learning in the insurance industry, comes a reminder that there is still a...more

Carlton Fields

New York Department of Financial Services Rings in the New Year with New Suitability Requirements for Insurance Companies

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New York’s Department of Financial Services decided to bid farewell to 2017 and ring-in the new year by proposing to amend Suitability in Annuity Transactions, 11 NYCR 224 (the Annuity Suitability Rule). On December 27, 2017,...more

Hogan Lovells

New York Regulators Lead the Charge to Fill Health Data Protection Gaps Left by Federal Law

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New York AG Settles Data Protection Enforcement Against Mobile Health Apps - After a year-long investigation into mobile health apps claiming to be able to measure vital signs or health indicators through smartphone...more

Holland & Knight LLP

New York Department of Financial Services Revises Proposed Cybersecurity Rule

Holland & Knight LLP on

The New York Department of Financial Services (NYDFS) recently issued a revised proposed regulation seeking to add its own mandate of cybersecurity requirements to those already in existence for banks, insurance companies and...more

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