New York S09393 mandates insurance carriers to share underwriting models or detailed claim data with the Department of Financial Services for.
New York S09393 amends the insurance law by requiring insurance carriers to provide access to their underwriting models or granular claim data to the Department of Financial Services. This access is intended to allow the department to evaluate underwriting practices and risk assessment methodologies. Underwriting models are defined as algorithms or methodologies used to assess risk and determine premiums. Granular claim data includes detailed information about claims.
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