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N.Y. Regulator Encourages Use of Telematics for Auto

The New York Department of Financial Services today issued a bulletin to auto insurers doing business in New York urging them to adopt usage-based insurance programs.

By Arthur D. Postal | Updated on May 27, 2014

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.

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