telematics and ratemaking News

New York’s Department of Financial Services (DFS) issued a bulletin to all New York auto insurers encouraging them to adopt “usage-based insurance” (UBI) programs. Under these voluntary programs, consumers can install “telematics” devices in their cars that – with the …

The crossroads of auto insurance these days is telematics, the use of an electronic device to monitor how an automobile is being driven. The device monitors where a car is and how it is being driven, and, in theory, should …