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Home Regulations NY DFS Circular Letter No. 7 (2024) — AI in Underwriting & Pricing
Regulation

NY DFS Circular Letter No. 7 (2024) — AI in Underwriting & Pricing

USA — New York DFS · New York, USA (insurance) · Guidance

This page is a plain-English summary written by us, not legal advice — the official text is linked above. Our catalogue was last reviewed 2026-08-15; that is a review of the whole catalogue, not an independent legal verification of this entry.

Authority
USA — New York DFS
Jurisdiction
New York, USA (insurance)
Type
Guidance
Status
In force
Maximum penalty
NY DFS supervisory action
Catalogue reviewed
2026-08-15
Official source checked
2026-08-23 — unchanged since our last read
Official text

Status

Issued 11 Jul 2024. Governs AI Systems and External Consumer Data & Information Sources (ECDIS) in insurance underwriting & pricing.

Requirements (1)

CL7 mandatory

Quantitative proxy / bias testing

Before using AI/ECDIS in underwriting or pricing, quantitatively test whether data or outputs correlate with protected-class status and produce unfair or unlawful discrimination; document governance, vendor controls and consumer disclosure.

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