May 22, 2020
DFS extends license expiration dates to July 8, 2020
The New York State Department of Financial Services yesterday issued Supplement No. 1 to Insurance Circular Letter No. 9 (2020), which suspends the expiration of licenses for all individual producers or an additional 45 days through Wednesday, July 8, 2020.
Circular Letter No. 9 had suspended the expiration of licenses for all individual producers for 60 days—from March 25, 2020, through May 24, 2020. It also waived any late fees resulting from, and accruing during, this 60-day period; and suspended the requirement that a monitor be present to complete producer continuing education and prelicensing course exams online during this 60-day period.
According to Supplement No. 1, “at the end of this 45-day period, all licenses that would have expired but for this extension will automatically expire unless the producer has submitted a license renewal application, including completion of all necessary continuing-education credits, before that date.”