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Prohibits the use of external consumer data and information sources being used when determining insurance rates; provides that no insurer shall unfairly discriminate based on race, color, national or ethnic origin, religion, sex, sexual orientation, disability, gender identity, or gender expression; or use any external consumer data and information sources, as well as any algorithms or predictive models that use external consumer data and information sources, in a way that unfairly discriminates based on race, color, national or ethnic origin, religion, sex, sexual orientation, disability, gender identity, or gender expression; makes related provisions; defines terms.
This bill prohibits insurers from using external consumer data and algorithms that unfairly discriminate in setting insurance rates.
If you use algorithms for insurance rate determination in New York, you must ensure compliance with non-discrimination provisions or face penalties.
What do these statuses mean? ▼
Affected Industries
Topics
What This Means
The proposed bill A08369 seeks to prohibit insurers from using external consumer data and algorithms that may lead to unfair discrimination based on various protected characteristics. This legislation aims to ensure fair practices in insurance rate determination, impacting how insurers assess risk and set rates. Compliance will be crucial for insurers operating in New York.
Key Provisions
- Prohibits the use of external consumer data in insurance rate determination.
- Prevents unfair discrimination based on protected characteristics.
- Restricts the use of algorithms that may lead to discriminatory practices.
Latest Legislative Action
referred to insurance
Bill Sponsors
| Name | Role | District |
|---|---|---|
| Brian Cunningham D | Sponsor | HD-043 |
Compliance Checklist
Who: Insurers
Penalty: Potential penalties for non-compliance
Who: Insurers
Penalty: Potential penalties for non-compliance
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Related Topics
Affected Industries
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