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Underwriting Insurance Industry Anti-Discrimination Policies

Alston & Bird

NYDFS Issues Final Circular Letter Guidance on Use of AI in Insurance Underwriting and Pricing

Alston & Bird on

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

BCLP

The Future of Insurance - Colorado’s New ECDIS and AI Model Regulations

BCLP on

On September 21, 2023, the Colorado Division of Insurance adopted a Final Regulation implementing S.B. 21-169, the 2021 law governing Colorado-licensed insurers’ use of external consumer data and information sources (ECDIS),...more

Eversheds Sutherland (US) LLP

New York Circular Letter No. 1 (2019) takes aim at accelerated underwriting

On January 18, 2019, the New York Department of Financial Services (NYDFS) issued a circular letter to all insurers authorized to write life insurance in New York State setting out the Department’s views concerning the use of...more

Akin Gump Strauss Hauer & Feld LLP

DFS Issues Guidance to Life Insurers on Use of “External Data” in Underwriting Decisions

On January 18, 2019, New York’s Department of Financial Services (DFS) issued Circular Letter No. 1 (2019) to advise life insurers regarding the type of data that they may use when underwriting policies. The guidance was...more

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