Instnt has received certification from the New York Insurance Department to operate its identity fraud loss insurance solution in the state, the company said in a news release. The regulatory approval allows the New York-based company to legally market and conduct insurance-related business in New York following its launch in March.
The certification required a review by state insurance regulators to ensure Instnt meets legal and operational requirements. The company provides AI-powered identity fraud detection and insurance coverage that helps businesses transfer residual fraud losses to insurers.
“Securing our New York license reflects our commitment to responsible, compliant growth,” Sunil Madhu, founder and CEO of Instnt, said in the news release. “Fraud isn’t limited by location. As we expand access to our identity fraud loss insurance solution to new markets, we continue to ensure our operations meet the highest regulatory standards in every location.”
