50-State Financial Services Licensing Compliance Guide
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New York Finance Licensing

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Licenses are typically required for individuals and businesses that provide finance industry services in the United States. This guide contains information about professional finance licensing in New York.

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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 Excess Lines License - Non-Resident

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Online

Agency Fee:

$400

Registration Renewal

Filing Method:

Online

Agency Fee:

$600

Due:

Biennially by October 31.

New York Excess Lines License - Resident

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Registration Renewal

Filing Method:

Online

Agency Fee:

$75

Due:

Biennially by October 31.

New York General Consultant License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

Due:

By March 31 of odd-numbered years.

New York Independent Adjuster License

Agency:New York Department of Financial Services
Foreign Qualification is Prerequisite:Yes
Bond Requirements:

$1,000

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

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.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.
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:

http://www.dfs.ny.gov/insurance/faxappi.htm

Agency Fee:

Varies by insurance type. Baseline of $100

Registration Renewal

This section applies to insurance firms that are already licensed in New York and need to renew their license.

Agency:New York Department of Financial Services
Form:

http://www.dfs.ny.gov/insurance/faxappi.htm

Agency Fee:

Varies by insurance type. Baseline of $100

Due:

Biennially

New York Life and/or Accident/Health Agent License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

Agency Fee:

$80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

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:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

Agency Fee:

$80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

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 Life Consultant License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

Due:

By March 31 of odd-numbered years.

New York Life Settlement Broker License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

Due:

By June 30 of odd-numbered years.

New York Life Settlement Provider License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

New York Limited Rental License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

New York Property & Casualty Agent License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

Agency Fee:

$80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

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:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

Agency Fee:

$80 per sub-licensee if New York is your home state. If not, see the fee schedule retaliatory fee details.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

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 Public Adjuster License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

Due:

By December 31 of even-numbered years.

New York Reinsurance Intermediary License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

Due:

By August 31 of even-numbered years.

New York Service Contract Registration License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

New York Third Party Administrator License

Agency:New York State Workers' Compensation Board
Eligible Entity Types:
  • a business formed in the State of New York [50(3-b)]
  • a business formed in the State of New York for the sole purpose of administering claims but are not a subsidiary of an insurance carrier licensed to write Workers' Compensation policies [50(3-d)]
  • or, an insurance carrier licensed by the New York State Department of Financial Services to write Workers' Compensation policies in New York State, or a subsidiary of one [50(3-d)]
Foreign Qualification is Prerequisite:Yes
Insurance Requirements:

Provide proof of current insurance policies or exemption:

  • For Workers' Compensation policies, use Certificate of NYS Workers' Compensation Insurance Coverage (Form C-105.2).
  • For Disability Benefits policies, use Certificate of Insurance Coverage under the NYS Disability and Paid Family Leave Benefits Law (Form DB-120.1).
  • For Exemption, use Certificate of Attestation of Exemption (Form CE-200).
Bond Requirements:

Self-insurer's Represntative's Bond Form (CE-200)

Notes:

Corporate entities must designate an officer of the corporation as the person responsible for ensuring that the corporate entity complies with all the laws, regulations, policies, procedures, and directives relating to the administration of workers' compensation claims in New York State.

Registered Agent (Special Agency) Required?No

Initial Registration

Form:

TPA Registration Application 

Filing Method:

Email licensing@wcb.ny.gov

Agency Fee:

$0

Law:

NYCRR Section 302-1.2

Before you Apply:
  • Proof of workers' compensations and disability coverage forms (C-105.2 and DB-120.1)
  • Third Party Administrator (TPA) Surety Bond form (OC-407)
  • List of Corporate Officers
  • List of clients represented by the TPA
  • Certificate from NYS DOS

Registration Renewal

Form:

TPA Registration Application (Renewal)

Filing Method:

Email licensing@wcb.ny.gov

Agency Fee:

$0

Due:

Triennially by date of issuance. 

Required Attachments:
  • Proof of workers' compensations and disability coverage forms (C-105.2 and DB-120.1)
  • Third Party Administrator (TPA) Surety Bond form (OC-407)
  • List of Corporate Officers
  • List of clients represented by the TPA
  • Certificate from NYS DOS

New York Title Insurance Agent License

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Mail or online. Email licensing.applications@dfs.ny.gov to obtain a paper application and instructions.

How to Apply:

  1. Submit a request for name approval to licensing@dfs.ny.gov. Include the applicant’s name, the entity name, a mailing address and the type of license for which you are applying. A response will be sent in 4-6 weeks.
  2. Entites using a trade name must register the name and submit a filing receipt with the license application.
  3. Apply for a license through the online portal.

Registration Renewal

Filing Method:

Online

Due:

By June 30 of odd-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:

UR Agent Report Application and Attestation Form

Agency Fee:

$0

Required Attachments:
  • Set of UR policies and procedures, including UR plan, demonstrating Agent’s ability to carry out the relevant requirements of Insurance Law
  • Certificate of Incorporation in New York State or other documentation that the Agent has been approved by the Secretary of State to do business in New York State
  • Corporate organization chart demonstrating the position of the Agent, subsidiaries, and any parent organizations in the corporate structure (an internal organization chart is not required)
  • List of all insurers and/or municipal cooperative health benefit plans for which the Agent is performing utilization review in New York State and/or anticipated contract date
  • URAC Certificate (if applicable)
  • Template notice letters
  • External Appeal Standard Description and Application

Registration Renewal

Form:

UR Agent Report Application and Attestation Form (Renewal)

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:

Form

Filing Method:

Mail

Registration Renewal

Instructions:

Renewal Application Mailed to Applicant

Filing Method:

Mail

Agency Fee:

$400

Due:

Biennially by September 30.

Individual Licenses

New York Individual Financial Services Licenses

New York Excess Lines License - Non Resident

Agency:New York Department of Financial Services
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Filing Method:

Online

Agency Fee:

If issued for less than one year, $200. If issued for greater than one year $400

Registration Renewal

Filing Method:

Online

Agency Fee:

If issued for less than one year, $200. If issued for greater than one year $400

Due:

Biennially by the end of the licensee's birth month.

New York Excess Lines License - Resident

Agency:New York Department of Financial Services

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

Biennially by the end of the licensee's birth month.

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:

Online

Agency Fee:

Varies based on Retaliatory Fee

Due:

Biennially

New York Life and Accident/Health Agent License - Non-Resident

Agency:New York Department of Financial Services
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Filing Method:

Online

Agency Fee:

Fees vary by home state. See the Life/Accident and Health/Variable Annuity Agent Fee Schedule for details.

Registration Renewal

Filing Method:

Online

Agency Fee:

Fees vary by home state. See the Life/Accident and Health/Variable Annuity Agent Fee Schedule for details.

Due:

Biennially on the licensee's date of birth. If the licensee was born in an even-numbered year, their license must be renewed during even-numbered years. If the licensee was born in an odd-numbered year, their license must be renewed during odd-numbered years.

New York Life Broker License - Non-Resident

Agency:New York Department of Financial Services
Foreign Qualification is Prerequisite:No
Registered Agent (Special Agency) Required?No

Initial Registration

Filing Method:

Online

Agency Fee:

Fees vary by home state. See the Life Broker Fee Schedule for details.

Registration Renewal

Filing Method:

Online

Agency Fee:

Fees vary by home state. See the Life Broker Fee Schedule for details.

Due:

Biennially on the licensee's date of birth. If the licensee was born in an even-numbered year, their license must be renewed during even-numbered years. If the licensee was born in an odd-numbered year, their license must be renewed during odd-numbered years.

New York Property & Casualty Agent License - Non Resident

Agency:New York Department of Financial Services
Foreign Qualification is Prerequisite:No
Notes:
  • A property casualty agent or broker is licensed to sell, solicit or negotiate property and casualty insurance.
  • An individual can also be licensed as a personal lines agent who is authorized to sell, solicit or negotiate non-commercial insurance to individuals and families, rather than businesses and organizations.
  • A property casualty agent or personal lines agent represents New York authorized companies for which he/she has been appointed.  A company appointment is not required to obtain an agent license. However, a notice of appointment must be electronically submitted to the Department within fifteen (15) days from the date the agency contract is executed, or the first insurance application is submitted.
  • A property casualty broker represents the insured and can place business with any New York authorized company that will accept it. Some companies will only accept business from appointed age
Registered Agent (Special Agency) Required?No

Initial Registration

Instructions:
  • To qualify for a license, the licensing candidate must meet the following prelicensing requirements:
    • complete a Department approved prelicensing education course totaling not less than 90 hours of instruction for the property casualty line of authority or not less than 40 hours for the personal lines authority. Visit the Prelicensing Provider/Course List on the portal for provider contact information.
    • pass, within 2 years of applying for the license, the licensing exam administered by PSI Services.  Visit the Exam Vendor Information page for registration and scheduling instructions.
  • Match the submission code numbers listed under the Resident or Non-Resident columns with the corresponding numbers on the Submission Requirements Chart to determine what must be submitted with the license application.
Filing Method:

Online

Agency Fee:

Non-residents, please see the fee chart to determine the licensing fee.

Penalties:

There is a $20 fee for any e-check or paper check returned by the bank for insufficient funds.

Registration Renewal

Filing Method:

Online

Agency Fee:

Non-residents, please see the fee chart to determine the licensing fee.

Due:
  • Licenses are issued for up to 2 years.  Individual/tba licenses will be issued with an expiration date determined by the applicant’s date of birth:
    • If born in an even numbered year, the license will expire on the birthday in an even numbered year.
    • If born in an odd numbered year, the license will expire on the birthday in an odd numbered year.

New York Property & Casualty Agent License - Resident

Agency:New York Department of Financial Services
Foreign Qualification is Prerequisite:No
Notes:
  • A property casualty agent or broker is licensed to sell, solicit or negotiate property and casualty insurance.
  • An individual can also be licensed as a personal lines agent who is authorized to sell, solicit or negotiate non-commercial insurance to individuals and families, rather than businesses and organizations.
  • A property casualty agent or personal lines agent represents New York authorized companies for which he/she has been appointed.  A company appointment is not required to obtain an agent license. However, a notice of appointment must be electronically submitted to the Department within fifteen (15) days from the date the agency contract is executed, or the first insurance application is submitted.
  • A property casualty broker represents the insured and can place business with any New York authorized company that will accept it. Some companies will only accept business from appointed agents.
Registered Agent (Special Agency) Required?No

Initial Registration

Exemption Eligible Organizations:
  • Exceptions from the prelicensing requirements:
    • A candidate for the either the agent or broker license who holds the Chartered Property Casualty Underwriter designation may waive the education requirement and may take the Property Casualty Laws and Regulations exam.
    • A candidate for the broker license may wave the education requirement if he/she were 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.  The candidate must submit a signed and completed Statement of Employer with the license application.
Filing Method:

Online

Agency Fee:

For New York residents the full fee is $80, half fee is $40. Non-residents, please see the fee chart to determine the licensing fee.

Penalties:

There is a $20 fee for any e-check or paper check returned by the bank for insufficient funds.

Before you Apply:
  • To qualify for a license, the licensing candidate must meet the following prelicensing requirements:
    • complete a Department approved prelicensing education course totaling not less than 90 hours of instruction for the property casualty line of authority or not less than 40 hours for the personal lines authority. Visit the Prelicensing Provider/Course List on the portal for provider contact information.
    • pass, within 2 years of applying for the license, the licensing exam administered by PSI Services.  Visit the Exam Vendor Information page for registration and scheduling instructions.
  • Match the submission code numbers listed under the Resident or Non-Resident columns with the corresponding numbers on the Submission Requirements Chart to determine what must be submitted with the license application.

Registration Renewal

Filing Method:

Online

Agency Fee:

For New York residents the full fee is $80, half fee is $40. Non-residents, please see the fee chart to determine the licensing fee.

Due:
  • Licenses are issued for up to 2 years.  Individual/tba licenses will be issued with an expiration date determined by the applicant’s date of birth:
    • If born in an even numbered year, the license will expire on the birthday in an even numbered year.
    • If born in an odd numbered year, the license will expire on the birthday in an odd numbered year.
Penalties:

There is a $20 fee for any e-check or paper check returned by the bank for insufficient funds.

New York Property & Casualty Broker License - Non Resident

More Information:

https://www.dfs.ny.gov/apps_and_licensing/agents_and_brokers/lic_app_pc_br

Agency:New York Department of Financial Services
Foreign Qualification is Prerequisite:No
Notes:
  • A property casualty agent or broker is licensed to sell, solicit or negotiate property and casualty insurance.
  • Property insurance provides protection against property losses to a business, home or car and/or against legal liability to the insured resulting from injury or damage to the property of others.
  • Casualty insurance provides protection against liability as a result of bodily injury, property damage or other covered peril.
  • An individual can also be licensed as a personal lines agent who is authorized to sell, solicit or negotiate non-commercial insurance to individuals and families, rather than businesses and organizations.
  • A property casualty agent or personal lines agent represents New York authorized companies for which he/she has been appointed.  A company appointment is not required to obtain an agent license. However, a notice of appointment must be electronically submitted to the Department within fifteen (15) days from the date the agency contract is executed, or the first insurance application is submitted.
  • A property casualty broker represents the insured and can place business with any New York authorized company that will accept it. Some companies will only accept business from appointed agents.
Registered Agent (Special Agency) Required?No
Qualifying Individual Requirements:
  • To qualify for a license, the licensing candidate must meet the following prelicensing requirements:
    • complete a Department approved prelicensing education course totaling not less than 90 hours of instruction for the property casualty line of authority or not less than 40 hours for tthe authority of the personal line Visit the Prelicensing Provider/Course List on the portal for provider contact information.
    • pass, within 2 years of applying for the license, the licensing exam administered by PSI Services.  Visit the Exam Vendor Information page for registration and scheduling instructions.

Initial Registration

Filing Method:

Online

Agency Fee:

See fee chart  to determine fee.

Notes:

Match the submission code numbers listed under the Resident or Non-Resident columns with the corresponding numbers on the Submission Requirements Chart to determine what must be submitted with the license application.

Registration Renewal

Filing Method:

Online

Agency Fee:

See the fee chart to determine the licensing fee.

Due:
  • Licenses are issued for up to 2 years.  Individual/tba licenses will be issued with an expiration date determined by the applicant’s date of birth:
    • If born in an even numbered year, the license will expire on the birthday in an even numbered year.
    • If born in an odd numbered year, the license will expire on the birthday in an odd numbered year.
Penalties:

There is a $20 fee for any e-check or paper check returned by the bank for insufficient funds.

Explore 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.

Financial Services License Service  Need help with your licensing? We help finance professionals manage their  licenses and registrations. Learn More. View License Services
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