New York State DFS Extends Producer Licensing Requirements - (Insurance Circular Letter No. 9)
The Department of Financial Services has issued an update to the Insurance Circular Letter No.9. As a reminder, that letter, released by the DFS on July 2, 2020, suspended the expiration of licenses for individual producers for 60 days (March 25-May 24, 2020) and placed a moratorium on late fee accrual during that period. During this same period, producers need not have a monitor be present to complete continuing education and pre-licensing course exams online. This date was later extended to July 8, 2020 (Supplement No.1) and later August 7, 2020 (Supplement No.2).
The DFS has now released Supplement No.3 to Circular Letter No.9. This supplement extends the reprieve from the need to have a monitor for CE and pre-licensing course exams to November 5, 2020. It also extends the expiration suspension of individual producer licenses to September 6, 2020. All individual producers whose licenses expire within the timeframe of March 25-September 6, 2020 must complete license renewal (with all required CE credits) by September 7, 2020.