New York A10364 mandates disclosures by automobile insurers on the use of telematics systems for insurance rates and discounts.

New York A10364 amends the insurance law to require certain disclosures by automobile insurers regarding the use of telematics systems in determining insurance rates and discounts. Insurers must provide an explanation of how factors in their models or algorithms are connected to risk, publicly disclose scoring methodologies, and report testing done to ensure compliance. Third-party developers or vendors of telematics systems must file their model or algorithm with the superintendent.

New York A10364 mandates disclosures by automobile insurers on the use of telematics systems for insurance rates and discounts.

New York A10364 amends the insurance law to require certain disclosures by automobile insurers regarding the use of telematics systems in determining insurance rates and discounts. Insurers must provide an explanation of how factors in their models or algorithms are connected to risk, publicly disclose scoring methodologies, and report testing done to ensure compliance. Third-party developers or vendors of telematics systems must file their model or algorithm with the superintendent.