The New York State Department of Financial Services proposed guidance on the use of "artificial intelligence systems and external consumer data and information sources in insurance underwriting and pricing."
News & Insights
The New York State Department of Financial Services provided temporary relief to consumers and businesses from making premium payments to life insurance companies, property and casualty insurers, and premium finance agencies.
The U.S. District Court for the District of Maryland ruled that an insurance carrier should pay out on coverage it sold to a client whose computer system was damaged by a ransomware attack.
The Federal Financial Institutions Examination Council recommended that financial institutions incorporate cyber insurance into a broader defense against cyber threats.
The SEC and the CFTC cited ongoing litigation as the reason they declined to issue a joint interpretation on whether a particular Reinsurance Participation Agreement is classified as a swap, security-based swap or mixed swap.