BILL NUMBER: S9832
SPONSOR: BAILEY
 
TITLE OF BILL:
An act to amend the insurance law, in relation to imposing standards for
certain examination services
 
PURPOSE:
The purpose of this bill is to codify existing Department of Financial
Services standards for producer exam test vendors.
 
SUMMARY OF PROVISIONS:
Section 1 amends paragraph 1 of subdivision f of section 2103 of the
insurance law by adding a new subparagraph to require that vendors score
producer licensing examinations in accordance with Department of Finan-
cial Services contractual practices and the National Association of
Insurance Commissioner (NAIC) standards.
 
JUSTIFICATION:
The National Association of Insurance Commissioner (NAIC) has developed
both standards and best practices for licensing producer exam develop-
ment, scoring, and administration. These standards serve the interest of
consumers, regulators, industry and prospective insurance producers. The
Department of Financial Services has adopted these standards for its
current examination vendor. This bill would codify this practice subject
to revision by the Superintendent by regulation.
 
LEGISLATIVE HISTORY:
New bill.
 
FISCAL IMPLICATIONS:
None.
 
EFFECTIVE DATE:
Immediately