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Press Release

July 6, 2017

Contact: Richard Loconte, 212-709-1691

DFS LAUNCHES ONLINE RE-LICENSING FOR AGENTS AND BROKERS SEEKING TO RETURN TO INSURANCE BUSINESS IN NEW YORK

Automated Service Will Enable Next Business Day Turnaround for Issuing New Licenses to Qualified Applicants

Financial Services Superintendent Maria T. Vullo today announced that the Department of Financial Services (DFS) has launched a new online application process to speed the re-licensing of agents and brokers whose original licenses have been expired for more than two years. The online re-licensing process is available to property/casualty and life and/or accident/health agents and brokers, as well as life and general consultants and life settlement brokers.

“DFS continues to implement and leverage technology to better serve the Department’s regulated persons and the New Yorkers they serve,” Superintendent Vullo said. “The DFS 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 next business day turnaround applies to applicants with no disqualifying conditions, such as disciplinary actions in other states. Applicants will be required to attest to the completion of pre-qualifying courses and furnish course numbers. Lapses in individual licenses may occur for various reasons, such as the result of career changes or for personal reasons. More than 1,200 agents and brokers were re-licensed in 2016.

New York residents seeking re-licensing must have completed a re-licensing exam within the last two years or hold another license with the same lines of authority being applied for in the re-licensing application. Non-residents must be in good standing and currently licensed in their declared home state with the same lines of authority being applied for in their New York re-licensing application. Licenses, which will no longer be mailed upon issuance, can now be printed by licensees through the online system.

The re-licensing of individuals whose licensing expired is one of a number of licensing transactions which may be accomplished using the DFS website. Other online licensee transactions include, but are not limited to, filing an original application to act as an individual agent or broker, renewing an individual license, or changing individual licensee address information.

Additional information, as well as a link to the re-licensing application, can be found at the location on the DFS website, http://www.dfs.ny.gov/insurance/relic.htm.

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