New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter IX - Unfair Trade Practices
Part 221 - Limitations Upon And Requirements For The Use Of Credit Information For Personal Lines Insurance
Section 221.8 - Filing of scoring models (or other scoring processes)

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 221.8

Current through Register Vol. 46, No. 12, March 20, 2024

(a) An insurer that uses insurance scores to underwrite or rate risks must file its scoring models (or other scoring processes) with the superintendent. On or after August 15, 2005, an insurer shall file its scoring models (or other scoring processes) with the superintendent at least 45 days prior to use.

(b) Each scoring model (or other scoring processes) filing shall include the following information:

(1) the name, version and the edition date of the scoring model;

(2) a detailed description of the credit information and insurance data that were used in the development of the scoring model, including but not limited to the source(s) of the credit information and insurance data, and the time periods associated with such information and data;

(3) a list of all the factors, and the relative importance of such factors, that are used in the scoring model (or other scoring processes);

(4) the actual algorithms, computer programs, models, or other processes that is used to produce an insurance score; and

(5) at least three distinct and detailed examples of insurance score calculations using the filed scoring models (or other scoring processes).

(c) A scoring model (or other scoring processes) shall not include as negative factors any of the items listed in section 221.3(a) of this Part.

(d) The filed scoring model (or other scoring processes) may also include loss experience justifying the use of credit information.

(e) An insurer that wishes to revise one of its previously filed scoring models (or other scoring processes) shall file a summary of the revision with the superintendent no later than 45 days after its use. The superintendent may request additional information if the summary does not provide adequate information.

(f) A third party may file scoring models or a revision thereof on behalf of an insurer. A filing by a third party shall clearly identify those insurers on whose behalf the filing is being made and the programs of insurance to which each scoring model applies.

(g) Pursuant to section 2806(b), a filing made pursuant to section 2806(a) remains the property of the insurer and is not subject to disclosure or production under article 6 or 6-A of the Public Officers Law or any other law of this State which authorizes or requires the superintendent to disclose or produce records to an outside party. This information is privileged and is not discoverable or admissible in any legal action in any civil, criminal or administrative proceeding but nothing in this Part or article 28 shall be construed as preventing the superintendent from utilizing any such information in an administrative proceeding enforcing this Part or article 28.

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