OGC Op. No. 10-01-01
The Office of General Counsel issued the following opinion on January 4, 2010 representing the position of the New York State Insurance Department.
Re: Prelicensing Course Exemption for Work Experience
Under the facts described below, may the applicant for a property/casualty broker license qualify for a license based upon the applicant’s work experience, in lieu of attending a 90 hour study course?
Yes. Provided the applicant has engaged in the work activities described below for the requisite time and in connection with one of the branches of insurance specified in Insurance Law
The inquirer represents a licensed insurance broker. The inquirer asks, on behalf of the insurance broker, as to whether an employee of the broker with the following job responsibilities and training would have the requisite work experience to qualify for a broker’s license for all lines except life insurance and variable life and variable annuity products, under Insurance Law
(c)(1) Every individual applicant for such license and every proposed sub-licensee shall be of the age of eighteen years or over at the time of the issuance of such license. No individual shall be deemed qualified to obtain such license or to be named as sub-licensee therein unless he shall comply with the requirements of subparagraph (A), (B) or (C) following:
(A) He shall have successfully completed a course or courses, approved as to method and content by the superintendent . . . not less than ninety hours . . . .
(B) He shall have been regularly employed by an insurance company or an insurance agent or an insurance broker, for a period or periods aggregating not less than one year during the three years next preceding the date of application, in the case of a license under subparagraph (B) of paragraph one of subsection (b) of this section, 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, and fidelity and surety; . . .and he shall submit with his application a statement subscribed and affirmed as true under the penalties of perjury by such employer or employers stating facts which show compliance with this requirement . . . . (Emphasis added.)
For further information you may contact Senior Attorney Brenda M. Gibbs at the Albany Office.