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Applying for Broker/Agent License

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. 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:

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.

Trade Name Approval

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.

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.

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.

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

Apply electronically online or submit fully completed Application for Life/Accident & Health Agent.

Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 40 hours of instruction

Exceptions:

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.

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 fully completed Application for Property/Casualty Agent.
  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:

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 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.

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

  1. Apply electronically online or submit fully completed Application for Life and/or Accident/Health Broker.
  2. Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 40 hours of instruction or Statement of Employer (PDF), 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:

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.

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.

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

  1. Apply electronically online or submit fully completed Application for Property/Casualty Broker.
  2. Documentation of having successfully completed a Department approved prelicensing education course totaling not less than 90 hours of instruction or Statement of Employer (PDF), 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:

Contact Us

If you are unable to find the answer to a financial services licensing question on our website, email the Licensing Bureau at licensing@dfs.ny.gov or call (800) 342-3736 (Monday through Friday, 8:30 AM to 4:30 PM). Local calls can be made to (212) 480-6400 or (518) 474-6600

Updated 10/01/2013

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