July 13, 1979
Circular Letter No. 17 (1979)
(Addendum to Circular Letter No. 10 (3/5/79))
TO: ALL LIFE INSURANCE COMPANIES AND ALL INSURERS LICENSED TO WRITE ACCIDENT AND HEALTH INSURANCE IN NEW YORK STATE
RE: 40-HOUR INSURANCE COURSE PREREQUISITE FOR LIFE AND ACCIDENT & HEALTH AGENT LICENSING PURSUANT TO SECTION 113
Section 114 has been amended in regard to the following matters concerning the above-captioned subject and added a new similar requirement for Savings Bank Life Insurance certificates issued pursuant to Section 135 of the Insurance Law:
1) Effective date changed from July 1, 1979 to January 1, 1980. Therefore no school certificates will be required until the first examination in January of 1980.
2) Certificates will only be required for new applicants who must take a qualifying examination for life insurance agent and/or accident & health insurance agent. No certificate is required for any applicant for an additional company license.
3) Discretionary authority has been granted to the Superintendent to eliminate subject material with a corresponding reduction in course hours if an insurer is not authorized to transact such kind or kinds of insurance in this state.
4) Section 134 of the Insurance Law is amended to require the same insurance course as that of Section 113 agent licensing for the issuance of Savings Bank Life Insurance certificates pursuant to Section 135.
Very truly yours,
ALBERT B. LEWIS
Superintendent of Insurance