Faster and paperless – that’s the route the Department of Financial Services (DFS) has taken when it comes to re-licensing applications.
DFS has launched an online application platform to expedite the processing of applications from agents and brokers whose original licenses have been expired for over two years.
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Property/casualty and life and/or accident/health agents and brokers, as well as life and general consultants and life settlement brokers, may use the new online system.
“DFS continues to implement and leverage technology to better serve the Department’s regulated persons and the New Yorkers they serve,” noted Financial Services Superintendent Maria Vullo.
She said the DFS re-licensing process is now significantly more efficient compared to the old paper-based system. Vullo assured that DFS will continue to modernize its processes to better serve consumers across New York State.
DFS said New York residents seeking re-licensing must have completed a re-licensing exam within the last two years or hold another license with the same lines of authority being applied for in the re-licensing application.
Non-residents, on the other hand, must be in good standing and currently licensed in their declared home state with the same lines of authority being applied for in their New York re-licensing application.
Licenses will no longer be mailed upon issuance as they can now be printed by licensees through the online system. Applicants with no disqualifying conditions will have a next-business day turnaround.
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