NYDFS Circular Letter No. 7 (2024) — Use of AI / External Consumer Data
Final circular guidance (June 2024) on the use of AI / external consumer data by NY-licensed insurers in underwriting and pricing. Requires a formal AI governance framework, demographic testing, documented use cases, and a designated AI officer. Insurers must certify compliance annually.
Not legal advice. This dataset is an aggregation of public regulatory text for informational purposes only. It is not legal advice and is not a substitute for counsel. Verify against the linked primary sources before relying on any row.
- Issuer
- New York Department of Financial Services
- Sector
- Insurance
- Primary source
- Primary source ↗
- Row count
- 1 jurisdictions covered
Rows
| Jurisdiction | Status | Effective | Last verified | Summary | Source |
|---|---|---|---|---|---|
| New York | Adopted | 2024-06-17 | 2026-07-08 | NYDFS Circular Letter No. 7 (2024) is the most prescriptive US state insurance-AI regime: it applies to all NY-licensed insurers using AI/ML or 'External Consumer Data & Information Sources' in underwriting and pricing, requires a formal AI governance framework, demographic testing, documented use cases, and a designated AI officer. Insurers were required to be in compliance by the issuer's deadline and to certify compliance on an annual basis. | Primary source ↗ |