Filed Under:Agent Broker, Agency Management

New York launches online insurance agent license renewal

Efficiency is the goal

Using the web-based program from the New York Financial Services Dept., qualified applicants could be re-licensed in as little as a day. (Photo: New York Law Journal)
Using the web-based program from the New York Financial Services Dept., qualified applicants could be re-licensed in as little as a day. (Photo: New York Law Journal)

Insurance agents and brokers whose state licenses have expired can now apply for re-licensing online rather than go through the old paper system, the New York State Department of Financial Services announced last week.

Qualified agents and brokers will be able to apply online to become re-licensed. The online application will be available to property and casualty insurance agents and brokers, as well as life, accident and health insurance brokers and agents, life and general consultants and life settlement brokers, according to the Department of Financial Services.

Related: Managing insurance compliance through process management

New York residents whose original licenses have lapsed must have completed a re-licensing exam within the last two years "or hold another license within the same lines of authority" being applied for in the re-licensing application. Nonresidents have to be in good standing in their home states and currently licensed in the same lines of authority for which they are applying in New York. Superintendent Maria Vullo said in a statement that the department's "re-licensing process is now significantly more efficient compared to the old paper-based system. DFS will continue to modernize its processes to better serve consumers across New York state."

The online services will allow applicants, with no disqualifying conditions such as disciplinary actions in other states, to be re-licensed as soon as the next business day. Applicants will "be required to attest" that they completed pre-qualifying courses and provide the course numbers. New York residents must prove that they have completed a re-licensing exam in the last two years, or that they hold another license within the same lines of authority.

Those who aren't New York residents "must be in good standing and currently licensed in the declared home state with the same lines of authority being applied for in this application."

Because of the online system, licenses will no longer be issued through the mail but applicants can print out their licenses using the online system.

Josefa Velasquez is a reporter with the New York Law Journal. To reach this writer, send email to jvelasquez@alm.com.

See also:

Insurer compliance and N.Y.'s new cybersecurity regulations

Using IoT to better serve customers

Originally published on New York Law Journal. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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