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Licensing Application: Adjuster Independent or Public | Department of Financial Services

Can Insurance Companies Deny Coverage? | Bankrate
Video How to become insurance adjusters and claims examiners

An independent adjuster refers to any individual, firm, association, or corporation operating within this state on behalf of an insurer. Their primary responsibility involves investigating and adjusting claims arising from insurance contracts issued by the insurer.

On the other hand, a public adjuster is someone who represents an insured party in negotiating settlements for claims related to loss or damage to the insured’s property.

Reading: How to become insurance adjusters and claims examiners

Temporary Independent Adjuster Permit (Catastrophe)

In the event of a catastrophe or emergency, individuals who are not licensed as independent adjusters in New York but possess the qualifications to adjust claims can obtain a temporary adjuster’s permit. To avail themselves of this permit, they must be sponsored by a New York authorized insurance company.

Prior License Requirements

To be eligible for a license, candidates must fulfill the following pre-licensing criteria:

  • Public adjuster candidates are required to complete a department-approved pre-licensing education course comprising a minimum of 40 hours of instruction. For provider contact information, visit the list of pre-licensing providers/courses on the portal.
  • No pre-licensing course is necessary for independent appraiser candidates.
  • All adjuster applicants must pass the appropriate licensing exam within 2 years of applying for licensure. The exam is administered by the designated provider. For registration and scheduling instructions, refer to the exam provider information page.

Exceptions to Pre-licensing Course Requirements

Candidates applying for a public adjuster license may waive the education requirement if they were regularly employed in the insurance industry for at least one year in a sales, underwriting, or claims-related role. The license application must include a signed and completed statement from the employer.

Fingerprints

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All appraiser applicants must submit fingerprints for both hands. New York resident applicants must complete electronic fingerprinting through Identogo. Non-resident applicants, however, must mail a completed fingerprint card along with the required fees to the department. Detailed instructions and fingerprinting procedures can be found on the respective page.

Link

A public adjuster candidate must furnish a bond worth $1,000 to cover the license period, from the date of issue to the expiration date. The application allows for uploading the necessary bail, acknowledgments, and power of attorney forms. Independent adjuster applicants, however, are no longer required to submit a bond.

Character Certificates

Applicants seeking a public adjuster license must submit five (5) certificates of character from individuals within the community in which they reside or conduct business. These certificates, under penalty of perjury, affirm that the applicant has been personally known to the certifying individuals for at least five years and is honest, competent, and of good character. It is essential that the individuals providing the certificates have no blood or affinity relation to the applicant. App certificates can be uploaded with the application. Note that certificates of character are no longer required for independent adjuster applicants.

Application Requirements

Public adjuster candidates must upload the following documents along with the online application:

  • Full bond, including acknowledgments and power of attorney form
  • Character certificates
  • Signed Identogo pre-registration confirmation/receipt
  • Employer statement (if applicable)

Similarly, independent adjuster candidates must upload the following documents with the online application:

  • Signed Identogo pre-registration confirmation/receipt

Rates and Renewal Period

See also : Can Insurance Companies Deny Coverage? | Bankrate

Licenses are issued for a duration of up to 2 years. For a license period exceeding one year, a non-refundable fee of $100 is charged upon issuance. However, if the license is issued for a period of one year or less, a non-refundable fee of $50 is applicable. All adjuster licenses expire on December 31 of even-numbered years. After the initial license period, all licenses will be issued from January 1 in odd-numbered years to December 31 in even-numbered years.

Payment Options

License fees can be paid via credit card, electronic funds transfer (electronic check), or paper check. If opting for a paper check, the request will remain pending until the department receives and processes the check. Do note that there is a $20 fee for any electronic check or paper check that is returned by the bank due to insufficient funds.

Apply Online

To access the individual adjuster/tba application, please visit the DFS portal at portal dfs.

Check Status/Print License

The department no longer sends out paper licenses. Ensure that you print your license as soon as it is issued.

Browsers and Blockers:

  • Use a Supported Browser: Ensure that you are using the latest version or one version older of IE, FF, Chrome, or Safari.
  • Disable Pop-up Blockers: Before using DFS portal applications, please disable any pop-up blockers in your browser.
  • Maintenance: Scheduled maintenance may render the application unavailable every day between 7:30 a.m. to 5:00 p.m. EDT until 7:45 a.m. EDT.

Apply via Paper Application

For a paper application and accompanying instructions, please email [email protected]

Source: https://amajon.asia
Category: Other

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