Interesting New York Life Settlement Licensing update
Life Settlement Fingerprint
This is interesting, and I wonder if other states will follow.
Individuals seeking licenses from the New York State Insurance Department to conduct business in a number of professional categories must submit electronic fingerprints with their license applications beginning Dec. 15.
The new requirement affects applicants with New York State addresses who are seeking new licenses in the following categories:
Insurance company officers and directors
Public and independent insurance adjusters
Professional bail bondsmen
Viatical settlement brokers
“Electronic fingerprinting will streamline the processing of background checks and enhance the Insurance Department’s ability to issue licenses more quickly. Electronic fingerprinting is now available at nearly 100 locations across the state so it will be convenient for applicants to have their fingerprints taken,” Insurance Superintendent James Wrynn said.
Electronic fingerprinting will be necessary for life settlement brokers and providers when they become subject to licensing requirements under the provisions of a new law approved last month. They will be required to have Insurance Department licenses starting May 18, 2010. Electronic fingerprinting will also be necessary for life settlement intermediaries who must register with the department starting on that same date.
More updates will be posted on: New York Life Settlement
December 7th, 2009 at 2:17 pm
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