Getting an insurance adjuster license in New York is hard work. The state has a unique procedure of its own when it comes to applying for, and obtaining an insurance adjuster license. Unlike other states, New York does not offer reciprocity for off-state adjusters.
This means that your already existing insurance adjuster license from a different state does not give you the edge that you were hoping for! As a potential applicant, you might think how exactly does one go about getting an adjuster license in New York? Well, we are here to help you with that. Let’s begin:
Background:
Adjuster licenses are of different kinds. From Property(Residential and Commercial) to Auto(from motorcycle to RV) to Worker’s Comp, there are several types of licenses that one can apply for. However, what we are looking at is the 17–70 General-Lines Insurance Adjuster license which is touted as the most powerful property and casualty adjuster license.
This license allows an adjuster to investigate all kinds of claims, from Property and Casualty to Auto to Worker’s Comp, etc. Having such authority over various claims does come with a great cost! And the cost is the sheer difficulty in obtaining the license.
Let’s see what are the kind of requirements one needs to fulfill to obtain an adjuster license in New York.
Taking the Exam:
Since reciprocity is not available, taking the New York Adjuster License exam is the only way to obtain the license in the state. PSI Exams Online is the examination partner for the New York State Department of Financial Services (NYDFS). The first step involves creating an account on their website. Then, after paying the $33 exam fee, the applicant can schedule a date and time for the exam.
Given the difficulty of the exam, one must prepare well before attempting it. There are numerous test prep programs like Prometric and Quizlet which can help you ace the exam.
Filling the Application Form:
After passing the exam, one needs to apply for the license by submitting the application form that one can find on the New York Department of Financial Services website.
NYDFS takes stringent measures when it comes to verifying the personal details of an applicant. Apart from being a U.S citizen and meeting the minimum age requirement which is 18 years, the applicant must have no criminal background. In other words, he/she must have never been convicted of any misdemeanor or felony or any kind of dishonest practice.
Additionally, the application also demands details regarding payment of child support services by the applicant (if applicable). Depending on the applicant’s answer, the duration of the validity of his/her license changes.
Moreover, the applicant must submit five certificates of character, wherein the authors of the certificates must vouch for the applicant’s good character and standing in the community in their own handwriting. The people vouching for the applicant must have known him/her for at least five years.
The application also asks for a licensing fee which amounts to $100 for the first year and $50 for the second year. The applicant also needs to submit a surety bond comprising of $1000 for the entire licensing period. This amount ensures that an individual adjuster does his work with due diligence and does not partake in fraudulent practices. This is a security measure taken by the state against individual adjusters.
The applicant also needs to submit his/her exam score report along with the application. The exam score is valid only for a period of two years after being taken.
The next step involves the processing of fingerprints which can be done through IdentoGo. The fee for the process is $87. Additional fingerprinting information and forms need to be completed as well.
Once these steps are completed, the applicant can check the status of their license on the NYDFS website. It usually takes 3 to 4 weeks for the department to process the license.
We hope that this guide helps you with your goal to obtain the 17–70 General Lines Insurance Adjuster License for the state of New York.