The New York Department of Financial Services (DFS) today issued a bulletin to auto insurers doing business in New York urging them to adopt "usage-based insurance" (UBI) programs.
Under these voluntary programs, consumers can install telematics devices in their cars that—with the consumers' consent—catalog data on driving habits and provide discounts to those found to be more careful drivers.
The announcement by DFS Superintendent Benjamin Lawsky followed his approval of a program at Esurance aimed at helping parents prevent their teenagers from texting and driving.
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