Allows insurers to use telematics data for private passenger and commercial vehicle insurance in New York.

This bill amends the insurance law to allow insurers to use telematics data for private passenger and commercial vehicle insurance. Insurers must disclose the use of telematics to applicants and policyholders. Data collected includes vehicle speed, location, mileage, driver habits, and other operational metrics. Insurers can use this data for establishing premiums, claims settlement, rate filings, and customer service purposes. The bill also allows insurers to offer loss prevention programs that incentivize safe driving.

Allows insurers to use telematics data for private passenger and commercial vehicle insurance in New York.

This bill amends the insurance law to allow insurers to use telematics data for private passenger and commercial vehicle insurance. Insurers must disclose the use of telematics to applicants and policyholders. Data collected includes vehicle speed, location, mileage, driver habits, and other operational metrics. Insurers can use this data for establishing premiums, claims settlement, rate filings, and customer service purposes. The bill also allows insurers to offer loss prevention programs that incentivize safe driving.