NYDFS Requests Information on Data Use

The New York Department of Financial Services (“NYDFS”) issued a Section 308 letter requesting insurers who may be using external sources of information for purposes of underwriting of life insurance policies in New York State to provide information concerning how insurers are using this data.

 

The Section 308 letter asks insurers to respond to 10 questions to describe the characteristics of their use of data in the life insurance underwriting process.

 

A copy of the Section 308 letter can be found here.