Insurance Licensing Compliance Guide
An overhead view of a woman signing forms

New York Insurance License

An insurance agent inspecting the damages to a car

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.

Filter LicensesClear Filters
Company Licenses
(2)
(2)
(2)
(1)
Individual Licenses
(1)
(1)

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
Fact Checked:4/27/21

Initial Registration

Filing Method:

Online

Agency Fee:

$400

Fact Checked:4/29/21

Registration Renewal

Filing Method:

Online

Agency Fee:

$600

Due:

Biennially by October 31.

Fact Checked:4/29/21

New York Excess Lines License - Resident

Agency:New York Department of Financial Services
Fact Checked:4/27/21

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Fact Checked:4/29/21

Registration Renewal

Filing Method:

Online

Agency Fee:

$75

Due:

Biennially by October 31.

Fact Checked:4/29/21

New York Independent Adjuster's (Entity) License

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

$1,000

Fact Checked:8/14/19

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

Fact Checked:8/14/19

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

Fact Checked:8/14/19

New York Insurance Agency License

Agency:New York Department of Financial Services
Fact Checked:1/8/16

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

Fact Checked:1/8/16

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

Fact Checked:1/8/16

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
Fact Checked:2/22/21

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
Fact Checked:2/22/21

Registration Renewal

Form:

UR Agent Report Application and Attestation Form (Renewal)

Agency Fee:

$0

Due:

Biennially by the registration anniversary date.

Fact Checked:2/22/21

Local Financial Services Company Licenses

Buffalo Collection Agency License

Bond Requirements:

$5000

Fact Checked:3/13/19

Initial Registration

Form:

Form

Filing Method:

Mail

Fact Checked:3/13/19

Registration Renewal

Instructions:

Renewal Application Mailed to Applicant

Filing Method:

Mail

Agency Fee:

$400

Due:

Biennially by September 30.

Fact Checked:3/13/19

Individual Licenses

New York Individual Financial Services Licenses

New York Excess Lines License - Resident

Agency:New York Department of Financial Services
Fact Checked:4/27/21

Initial Registration

Filing Method:

Online

Agency Fee:

$50

Fact Checked:4/29/21

Registration Renewal

Filing Method:

Online

Agency Fee:

$50

Due:

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

Fact Checked:4/29/21

New York Insurance Agent License

Agency:New York Department of Financial Services
Fact Checked:12/31/20

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

Fact Checked:6/1/17

Registration Renewal

Filing Method:

Online

Agency Fee:

Varies based on Retaliatory Fee

Due:

Biennially

Fact Checked:1/5/21

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.

© 2012 - 2021 Harbor Compliance. All rights reserved. Harbor Compliance does not provide tax, financial, or legal advice. Use of our services does not create an attorney-client relationship. Harbor Compliance is not acting as your attorney and does not review information you provide to us for legal accuracy or sufficiency. Access to our website is subject to our Terms of Use and Service Agreement.