Bill > A07614

This bill amends the insurance law in New York to allow insurers to use telematics or usage-based insurance for private passenger or commercial automobile insurance policies. The key provisions include: 1. Defining "telematics" or "usage-based insurance" as the use of data collected from vehicle systems, sensors, or telecommunications devices related to vehicle speed, location, mileage, driving behavior, and other factors. 2. Allowing insurers to collect telematics data with the consent of the participating driver (or named insured if the driver is a minor) for purposes of establishing insurance premiums, claims settlement, rate filing, and various customer service uses. 3. Prohibiting insurers from requiring participation in a telematics program as a condition for pricing or underwriting private passenger auto insurance, unless the insurer only offers such products and discloses this requirement. 4. Providing for notice and regulation of any premium increases resulting from the use of telematics data during the current policy period. 5. Allowing insurers to share telematics data with the named insured, with others only with the named insured's consent, or as required by a court order or subpoena. 6. Requiring insurers offering telematics or usage-based insurance programs to comply with the applicable provisions of the insurance law.