New York Insurance License
Licensing requirements for New York insurance professionals and companies.
This page provides an overview of insurance licensing in New York for individuals and companies. You will find state requirements, application fees, filing instructions, and more. For assistance with licensing, please contact us to learn about our software and managed license services.
Companies that provide insurance producer services in New York must apply for a license prior to doing business. Depending on the lines of authority offered by the entity and the types of services offered, multiple firm licenses may be required.
Before applying, firms should ensure that the licensed individual to be appointed agent in charge has the necessary licenses. Firms should also gather proof of incorporation, or foreign qualification for out-of-state firms, in anticipation of application requirements.
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- New York Financial Services Company Licenses
- Local Financial Services Company Licenses
- New York Individual Financial Services Licenses
Company Licenses
New York Financial Services Company Licenses
New York Collection Agency License
Not required
Debt Collection Agency licensure is not required on the State level in New York.
Collection agencies are licensed at the county and city level in New York.
New York Independent Adjuster's (Entity) License
| Agency: | New York Department of Financial Services |
| Foreign Qualification is Prerequisite: | Yes |
| Bond Requirements: | $1,000 |
Initial Registration
| Form: | Entity Form - Original/Relicensing: Application for Independent Adjuster's License |
| Filing Method: | File by mail. |
| Agency Fee: | $100 for full licensing period (applications submitted during odd-numbered years); $50 for half licensing period (applications submitted during even-numbered years). |
| Notes: | Ensure all application materials are clipped or stapled together. DFS may reject application materials as "submitted separately" if pages are not fastened. |
| Bond Amount: | $1,000 |
Registration Renewal
| Form: | Entity Form - Original/Relicensing: Application for Independent Adjuster's License |
| Filing Method: | File by mail. |
| Agency Fee: | $100 |
| Due: | January 1 of odd-numbered years. |
| Notes: | Ensure all application materials are clipped or stapled together. DFS may reject application materials as "submitted separately" if pages are not fastened. |
| Bond Amount: | $1,000 |
New York Insurance Agency License
| Agency: | New York Department of Financial Services |
Initial Registration
This section applies to insurance firms that are applying for a license in New York for the first time.
| Agency: | New York Department of Financial Services |
| Form: | |
| Agency Fee: | Varies by insurance type. Baseline of $100 |
New York Life and/or Accident/Health Agent License
| Agency: | New York Department of Financial Services |
Initial Registration
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
| Due: | By June 30 of odd-numbered years. |
New York Life Broker License
| Agency: | New York Department of Financial Services |
Initial Registration
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
| Due: | By October 31 of even-numbered years. |
New York Property & Casualty Agent License
| Agency: | New York Department of Financial Services |
Initial Registration
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
| Due: | By June 30 of odd-numbered years. |
New York Property/Casualty Broker License
| Agency: | New York Department of Financial Services |
Initial Registration
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
Registration Renewal
| Filing Method: | |
| Agency Fee: | $80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details. |
| Due: | By October 31 of even-numbered years. |
New York Utilization Review Agent Report
| Type of Review: | Medical Utilization Review |
| Agency: | New York Department of Financial Services |
| Law: | New York Stat ISC § 4901 |
| Foreign Qualification is Prerequisite: | Yes |
Initial Registration
| Form: | |
| Agency Fee: | $0 |
| Required Attachments: |
|
Registration Renewal
| Form: | |
| Agency Fee: | $0 |
| Due: | Biennially by the registration anniversary date. |
Local Financial Services Company Licenses
Buffalo Collection Agency License
| Bond Requirements: | $5000 |
Initial Registration
| Form: | |
| Filing Method: |
Registration Renewal
| Instructions: | Renewal Application Mailed to Applicant |
| Filing Method: | |
| Agency Fee: | $400 |
| Due: | Biennially by September 30. |
Individual Licenses
New York Individual Financial Services Licenses
New York Insurance Agent License
| Agency: | New York Department of Financial Services |
Initial Registration
This section applies to insurance agents that are applying for a license in New York for the first time.
| Agency Fee: | From $0 to $7,500 depending on license type |
Registration Renewal
| Filing Method: | |
| Agency Fee: | Varies based on Retaliatory Fee |
| Due: | Biennially |
Learn about insurance licensing in other states:
Adjuster - A person or firm that is paid to adjust, investigate, and negotiate claim settlements. There are 3 categories of adjusters: company, independent, and public. Company adjusters work for insurance companies and investigate claims on behalf of the company. Independent adjusters investigate claims on a contractual basis for insurance companies. Public adjusters investigate claims on behalf of claimants, usually to determine the amount of money that can be claimed.
Agent in Charge - A licensed individual responsible for the supervision of all individuals within an insurance agency. The agent in charge must be licensed in the same lines as the agency.
Insurance Agent - Insurance agents act as intermediaries between the insurance company and policyholders. Agents can be either captive or independent. Captive agents represent a single insurance company, while independent agents represent multiple insurers.
Insurance Broker - Individuals who sell insurance policies while representing the interests of the buyer. Brokers are typically independent intermediaries without an insurance company affiliation.
Insurance Producer - May be used to refer to either individual insurance agents and brokers or insurance agencies and brokerages.
Managing General Agent - An agent or broker that is involved in underwriting and has other areas of authority normally handled by insurers. MGAs are typically involved in unusual lines of coverage or in geographically prohibitive areas.
Surplus Lines Insurer - An insurance carrier that takes on risks that a licensed carrier is unwilling to insure. Surplus lines insurers do not have access to state guaranty funds and are less tightly regulated by state governing bodies.
Third Party Administrator - An organization that manages group insurance policies and works with the employer and insurance carrier to process claims, handle loss control, and provide risk management and consulting services.
Title Agent - Title agents sell insurance that protects real estate owners against loss of ownership of a property due to a legal claim.
Viatical Settlement Provider - A company that purchases life insurance policies at a discount from individuals seeking immediately available funds.
Independent Insurance Agents and Brokers of America (Big “I”)
Advocacy group of independent insurance brokers and agents.
National Association of Insurance and Financial Advisors (NAIFA)
Professional association that advocates for favorable regulatory conditions for insurance agents and financial advisors.
National Association of Insurance Companies (NAIC)
A standard setting and regulatory support organization that is governed by state insurance regulators.
National Association of Professional Insurance Agents (PIA)
Professional association that provides education and advocacy for insurance agents throughout the United States.
National Insurance Producer Registry (NIPR)
An affiliate of the NAIC that provides streamlined and uniform producer licensing processes.
