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Financial Services Law Insights and Observations

NYDFS extends suspension of license expiration for individual insurance producers

State Issues Covid-19 New York NYDFS Licensing Insurance

State Issues

On August 6, the New York Department of Financial Services (DFS) issued a third supplement to Insurance Circular Letter No. 9, previously covered here and here.  The letter, which suspended the expiration of licenses for individual insurance producers, has been extended for an additional 30 days through September 6, 2020. All licenses that would have expired between March 25, 2020, and September 6, 2020, but for Insurance Circular Letter No. 9 (2020) and the supplements thereto will automatically expire on September 7, 2020, unless the producer completes all necessary continuing education credits, and submits a license renewal application, before September 7, 2020. The supplement notes that the extension is a “final accommodation.”

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