BILL NUMBER: S5049
SPONSOR: BAILEY
 
TITLE OF BILL:
An act to amend the insurance law, in relation to licensing of independ-
ent adjusters
 
PURPOSE:
This bill intends to streamline the licensing of independent insurance
adjusters by waiving the requirement for each individual applicant to
take and pass a personal written examination so long as the applicant
holds a claims certification issued by a national or state-based claims
association with certification programs that meet minimum standards.
 
SUMMARY OF PROVISIONS:
Sections 1 amends paragraph of subsection (f) of section 2108 of the
insurance law to waive the requirement for an independent adjuster
applicant to take and pass a personal written examination so long as he
or she holds a claims certification issued by a national or state-based
claims association with certification programs that meet minimum stand-
ards.
 
JUSTIFICATION:
With the increase of natural disasters impacting New York State, it is
critical that the insurance industry and consumers have access to quali-
fied independent adjusters. Independent adjusters are adjustors who work
on behalf of insurance companies to handle claims for consumers. Many
independent adjusters do business in multiple states and the process of
seeking upwards of 20 different state licenses is a barrier to entry
that ultimately hurts consumers. This legislation would streamline the
licensing process for individuals who have completed a certification
course offered by a nationally recognized claims association. These
certification courses approved by the Department of Financial Services
hold participants to the highest standards. This bill will help attract
and retain the highest quality adjusters to do business in New York.
 
LEGISLATIVE HISTORY:
2023-24: Passed Senate 2021-22: Passed Senate
2019-20: Referred to Insurance
2017-18: Committed to Rules
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
Immediately.