LICENSING SERVICES BUREAU: Information on Applying for Broker/Agent Licenses

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• Introduction
• Information for Prospective Life/A&H Insurance Agents
• Information for Prospective P&C Insurance Agents
• Information for Prospective Life Insurance Brokers
• Information for Prospective P&C Insurance Brokers

Introduction

This material provides information regarding various types of agent and broker licenses issued by this Department and the procedures to be followed when applying

PLEASE NOTE: Individuals and individuals with trade names applying for a life agent, life broker, property/casualty agent and/or property/casualty broker license can now apply online through this Department's website at www.ins.state.ny.us. Residents must be qualified by examination; non-residents may use the National Insurance Producer Registry (NIPR) at www.nipr.com.

Due to a change in legislation an individual/tba license will be issued with an expiration date determined by date of birth:

If you were born in an even numbered year, your license will expire on your birthday in an even numbered year.

If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.

A life, accident & health or property and casualty agent represents companies for which he/she has been appointed. A life or property and casualty broker represents the insured and can place business with any company authorized in New York State which will accept it. Some companies will only accept business from their own agents.

Both agent and broker licenses are issued to individuals, partnerships, corporations and limited liability companies. Individuals and sublicensees must be at least 18 years of age.

Corporate, partnership, limited liability company and assumed or trade names must have prior approval from this Department since duplicate or misleading names cannot be licensed. These names should be approved before submitting an application. Requests for name approval must be submitted by letter or e-mail, licensing@dfs.ny.gov to the Department of Financial Services. Please include in your request the name and address of the prospective sublicensee and the type of license for which you are applying. Approval or disapproval will be forwarded in writing with additional instructions.

Licensing Bureau
(518) 474-6630

Information for Prospective Life/Accident & Heath Insurance Agents

Life/accident & health agent licenses are issued pursuant to Section 2103(a) of the Insurance Law authorizing agents to solicit the lines of life, variable annuities, accident & health and travel accident for those insurers from whom an appointment has been submitted to the Department after the license has been issued.

The term for agent licenses is up to two years.

• INDIVIDUALS/TBA - Effective Date of Issued License to Date of Birth Expiration: If you were born in an even numbered year, your license will expire on your birthday in an even numbered year. If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
• ENTITIES - July 1 to June 30 of odd numbered years.

The fee for a resident license is $80.00 for an individual/tba, or $80.00 for each sublicensee of a partnership, corporation or limited liability company for a license issued for a period greater than one year and $40.00 if issued for one year or less. For non-residents, see fee list for information regarding reciprocity and fee amounts. Information regarding examinations and licensing may be requested from this office by telephone, (518) 474-6630, or by e-mail, licensing@dfs.ny.gov.

To become licensed as a life/accident & health agent, an applicant must submit:

1. Apply electronically online or submit fully completed application (obtain from sponsoring insurance company or the Department's website - click on Producer License Applications - Life/Accident & Health Agent to download forms and instructions)
2. Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 40 hours of instruction
   • Documentation of having passed, within two years immediately preceding the date of the Department's receipt of the application, the examination(s) prescribed by the Superintendent for the lines of insurance for which the license is sought (an applicant for the variable annuities line must also be licensed for the life line and must submit proof of having passed NASD series 6, 7 or 63 - non-residents must be licensed in their home state for variable annuities).
   • An approved appointment from a sponsoring insurance company
   • An electronic payment or check payable to the Superintendent of Insurance for the license fee

Exceptions:

• A person holding a Chartered Life Underwriter or Chartered Underwriter Associate Designation need not complete the 40 hours of prelicensing education or Part 1 of the qualifying examination but must take only Part 2 of the examination.
• A person who was licensed to sell the same lines of insurance who does not apply for a license within two years following the date of termination of his license must demonstrate current competency by retaking the qualifying examination but need not retake the 40 hours of prelicensing education.
• A person licensed as a life broker or life consultant may apply for a life/accident & health agent license to sell the same lines of insurance without repeating the education and examination requirement for those lines of insurance.
• A non-resident applicant (one who has declared a state OTHER than New York as their Home State. Home State is where you maintain a principal place of residence or business AND are licensed in good standing for the lines of authority being applied for in the application) may submit an application, an approved appointment, a Certification from the Department of Financial Services of the home state in lieu of the education and examination documentation, and a check in the amount of the home state fee or the New York fee, whichever is greater. (See fee list for information regarding reciprocity and fee amounts.)

Information for Prospective Property and Casualty Insurance Agents

Property and casualty agent licenses are issued pursuant to Section 2103(b) of the Insurance Law authorizing agents to solicit coverage for those insurers from whom an appointment has been submitted to the Department after the license has been issued.

The term for agent licenses is up to two years.

• INDIVIDUALS/TBA - Effective Date of Issued License to Date of Birth Expiration: If you were born in an even numbered year, your license will expire on your birthday in an even numbered year. If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
• ENTITIES - July 1 to June 30 of even numbered years.

The fee for a resident license is $80.00 for an individual/tba, or $80.00 for each sublicensee of a partnership, corporation or limited liability company for a license issued for a period greater than one year and $40.00 if issued for one year or less. For non-residents, see fee list for information regarding reciprocity and fee amounts. Information regarding examinations and licensing may be requested from this office by telephone, (518) 474-6630, or by e-mail, licensing@dfs.ny.gov.

To become licensed as a property and casualty agent, an applicant must submit:

1. Apply electronically online or submit a fully completed application (obtain from sponsoring insurance company or the Department's website - click on Producer License Applications - Property and Casualty Agent to download forms and instructions)
2. Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 90 hours of instruction
3. Documentation of having passed, within two years immediately preceding the date of the Department's receipt of the application, the examination prescribed by the Superintendent
4. An approved appointment from a sponsoring insurance company
5. An electronic payment or check payable to the Superintendent of Insurance for the license fee

Exceptions:

• A person holding a Chartered Property Casualty Underwriter Designation need not complete the 90 hours of prelicensing education or Part 1 of the qualifying examination but must take only Part 2 of the examination.
• A person who was licensed as a property and casualty agent who does not apply for a license within two years following the date of termination of his license must demonstrate current competency by retaking the qualifying examination but need not retake the 90 hours of prelicensing education.
• A person licensed as a property and casualty broker or consultant may apply for a property and casualty agent license without repeating the education and examination requirements.
• A non-resident applicant (one who has declared a state OTHER than New York as their Home State. Home State is where you maintain a principal place of residence or business AND are licensed in good standing for the lines of authority being applied for in the application) may submit an application, an approved appointment, a Certification from the Department of Financial Services of the home state in lieu of the education and examination documentation, and a check in the amount of the home state fee or the New York fee, whichever is greater. (See fee list for information regarding reciprocity and fee amounts.)

Information for Prospective Life Insurance Brokers

Life broker licenses are issued pursuant to Section 2104(b)(1)(A) of the New York Insurance Law authorizing brokers to solicit the lines of life, variable annuities and accident & health on behalf of insureds.

• The term for agent licenses is up to two years.
• INDIVIDUALS/TBA - Effective Date of Issued License to Date of Birth Expiration: If you were born in an even numbered year, your license will expire on your birthday in an even numbered year. If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
• ENTITIES - November 1 to October 31 of even numbered years.

The fee for a resident license is $80.00 for an individual/tba, or $80.00 for each sublicensee of a partnership, corporation or limited liability company for a license issued for a period greater than one year and $40.00 if issued for one year or less. For non-residents, see fee list for information regarding reciprocity and fee amounts. Information regarding examinations and licensing may be requested from this office by telephone, (518) 474-6630, or by e-mail, licensing@dfs.ny.gov.

To become licensed as a life broker, an applicant must submit:

1. Apply electronically online or submit fully completed application (obtain by contacting the Licensing Services Bureau or accessing the Department's website - click on Producer License Applications or Life Broker to download forms and instructions)
2. Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 40 hours of instruction or Statement of Employer (obtain by contacting the Licensing Services Bureau or accessing the Department's website - click on Producer License Applications for Statement of Employer to download form), if qualified by experience
3. Documentation of having passed, within two years immediately preceding the date of the Department's receipt of the application, the examination(s) prescribed by the Superintendent for the lines of insurance for which the license is sought (an applicant for the variable annuities line must also be licensed for the life line and must submit proof of having passed NASD series 6, 7 or 63 - non-residents must be licensed in home state for variable annuities).
4. An electronic payment or check payable to the Superintendent of Insurance for the license fee

Exceptions:

• A person holding a Chartered Life Underwriter, Chartered Financial Consultant or Master of Science in Financial Services Designation need not complete the 40 hours of prelicensing education or Part 1 of the qualifying examination but must take only Part 2 of the examination.
• A person may be exempt from taking the required 40 hours of prelicensing education if he/she is able to provide documentation of having been regularly employed by an insurance company, broker or agent for a period of not less than one year during the last three years in responsible insurance duties relating to the use of life insurance, accident & health insurance and annuity contracts in the design and administration of plans for estate conservation and distribution, employee benefits and business continuation. A person serving with the Armed Forces may also qualify on the basis of such experience if the one year period of employment was during the three years next preceding his/her entry into the Armed Forces, and he/she applies within one year after discharge.
• A person who was licensed to sell the same lines of insurance who does not apply for a license within two years following the date of termination of his/her license must demonstrate current competency by retaking the qualifying examination but need not retake the 40 hours of prelicensing education.
• A person licensed as a life and/or accident & health agent or life consultant may apply for a life broker license to sell the same lines of insurance without repeating the education and examination requirement for those lines of insurance.
• A non-resident applicant (one who has declared a state OTHER than New York as their Home State. Home State is where you maintain a principal place of residence or business AND are licensed in good standing for the lines of authority being applied for in the application) may submit an application, a Certification from the Department of Financial Services of the home state in lieu of the education and examination documentation, and a check in the amount of the home state fee or the New York fee, whichever is greater. (See fee list for information regarding reciprocity and fee amounts.)

Information for Prospective Property and Casualty Insurance Brokers

Property and casualty broker licenses are issued pursuant to Section 2104 of the Insurance Law authorizing licensees to solicit coverage on behalf of insureds.

The term for broker licenses is up to two years.

• INDIVIDUALS/TBA - Effective Date of Issued License to Date of Birth Expiration: If you were born in an even numbered year, your license will expire on your birthday in an even numbered year. If you were born in an odd numbered year, your license will expire on your birthday in an odd numbered year.
• ENTITIES - November 1 - October 31 of even numbered years.

The fee for a resident license is $80.00 for an individual/tba, or $80.00 for each sublicensee of a partnership, corporation or limited liability company for a license issued for a period greater than one year and $40.00 if issued for one year or less. For non-residents, see fee list for information regarding reciprocity and fee amounts. Information regarding examinations and licensing may be requested from this office by telephone, (518) 474-6630, or by e-mail, licensing@dfs.ny.gov.

To become licensed as a property and casualty broker, an applicant must submit:

1. Apply electronically online or submit a fully completed application (obtain by contacting the Licensing Services Bureau or accessing the Department's website - click on Producer License Applications or Property and Casualty Broker to download forms and instructions).
2. Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 90 hours of instruction or Statement of Employer (obtain by contacting the Licensing Services Bureau or accessing the Department's website - click on Producer License Applications or Property and Casualty Broker for Statement of Employer to download form), if qualified by experience
3. Documentation of having passed, within two years immediately preceding the date of the Department's receipt of the application, the examination prescribed by the Superintendent
4. An electronic payment or check payable to the Superintendent of Insurance for the license fee

Exceptions:

• A person holding a Chartered Property Casualty Underwriter Designation need not complete the 90 hours of prelicensing education or Part 1 of the qualifying examination but must take only Part 2 of the examination.
• A person may be exempt from taking the required 90 hours of prelicensing education if he/she is able to provide documentation of having been regularly employed by an insurance company, broker or agent for a period of not less than one year during the last three years in responsible insurance duties relating to the underwriting or adjusting of losses in any one or more of the following branches of insurance: fire, marine, liability and workers' compensation, fidelity and surety, property and casualty. A person serving with the Armed Forces may also qualify on the basis of such experience if the one year period of employment was during the three years next preceding his/her entry into the Armed Forces, and he/she applies within one year after discharge.
• A person who was licensed as a property and casualty broker who does not apply for a license within two years following the date of termination of his/her license must demonstrate current competency by retaking the qualifying examination but need not retake the 90 hours of prelicensing education.
• A person licensed as a property and casualty agent or property and casualty consultant may apply for a property and casualty broker license without repeating the education and examination requirement for those lines of insurance.
• A non-resident applicant (one who has declared a state OTHER than New York as their Home State. Home State is where you maintain a principal place of residence or business AND are licensed in good standing for the lines of authority being applied for in the application) may submit an application, a Certification from the Department of Financial Services of the home state in lieu of the education and examination documentation, and a check in the amount of the home state fee or the New York fee, whichever is greater. (See fee list for information regarding reciprocity and fee amounts.)

Updated 10/03/2011