The New York Department of Financial Services has issued a circular letter setting expectations that any insurer using artificial intelligence systems must be able to establish those systems do not use data that could produce discriminatory outcomes.
Tag: NY Department of Financial Services
NY Fines Two Insurers $4.2M for Alleged Reporting Failures
NY Superintendent of Financial Services Adrienne A. Harris today announced that Zurich American Insurance Company and Progressive Direct Insurance Company have entered into separate Consent Orders with the Department of Financial Services resolving DFS’s investigations into the companies’ failure to timely report certain insured vehicle information to the Department of Motor Vehicles. Under those Consent… Continue reading NY Fines Two Insurers $4.2M for Alleged Reporting Failures