Relates to licensing of independent insurance adjusters by deeming requirements regarding a written examination met if the applicant holds a claim certification from a national or state-based claims association.
Summary
Bill S05049 seeks to amend the New York insurance law regarding the licensing of independent adjusters. Specifically, it proposes to waive the written examination requirement for applicants who hold a claims certification from a recognized national or state-based claims association. This certification must include a minimum of forty hours of pre-exam coursework, a proctored examination, and twenty-four hours of continuing education for renewal. The intent of the bill is to streamline the licensing process for independent adjusters while ensuring that those who are certified meet a high standard of competency.
Impact
If enacted, this bill would modify existing licensing requirements for independent insurance adjusters in New York. It would allow certified individuals to bypass the written examination, potentially increasing the number of qualified adjusters in the field. This change could lead to a more efficient licensing process and may encourage more professionals to enter the insurance adjusting industry, thereby impacting the overall insurance market in New York.
Sentiment
The sentiment surrounding Bill S05049 appears to be overwhelmingly positive, as indicated by the unanimous votes in both the Senate Insurance Committee and the Senate Floor for its passage. The lack of opposition suggests that stakeholders, including insurance professionals and regulatory bodies, support the proposed changes to the licensing process.
Contention
There are no notable points of contention reported in the discussions or votes regarding Bill S05049. The unanimous support in committee and floor votes indicates a consensus among legislators that the proposed amendments will benefit the insurance industry without compromising standards.
Relates to licensing of independent insurance adjusters by deeming requirements regarding a written examination met if the applicant holds a claim certification from a national or state-based claims association.
Relates to licensing of independent insurance adjusters by waiving requirements regarding a written examination if the applicant holds a claim certification from a national or state-based claims association.
Relates to licensing of independent insurance adjusters by waiving requirements regarding a written examination if the applicant holds a claim certification from a national or state-based claims association.
Requires that in civil claims under the child victims act, adult survivors act, or a civil sex trafficking claim any insurer who may provide liability coverage for a claim shall, upon request from the claimant or claimant's attorney, provide information regarding each known policy of insurance; provides that a person bringing a civil claim in a sex trafficking case need not disclose their immigration status.
Requires that in civil claims under the child victims act, adult survivors act, or a civil sex trafficking claim any insurer who may provide liability coverage for a claim shall, upon request from the claimant or claimant's attorney, provide information regarding each known policy of insurance; provides that a person bringing a civil claim in a sex trafficking case need not disclose their immigration status.