Bill > S07129

This bill amends the New York insurance law to allow insurers to use "telematics" or "usage-based insurance" data collected from vehicles and drivers for various purposes, such as setting insurance premiums, investigating claims, and providing additional customer services. The bill outlines specific requirements for insurers, including obtaining consent from the driver or named insured, disclosing the use of telematics to applicants and policyholders, and complying with applicable regulations. The bill also allows insurers to offer loss prevention programs that incentivize safe driving behavior through the use of telematics. The provisions of this bill are set to take effect 90 days after becoming law, with the superintendent of insurance authorized to promulgate necessary regulations.