What Kind Of Insurance Adjuster Will You Be?
There are four main types of insurance adjusters: staff adjuster, independent adjuster, catastrophe adjuster, and public adjuster.
Each of these positions accomplishes essentially the same task: assess the damage to property brought about by some event and make an evaluation of what monetary value the insurance claim should carry.
The big difference between these different types of adjusters is who pays them, and in the case of the public adjuster, who they are advocating for. Staff, independent, and catastrophe adjusters all require the same type of license, while a public adjuster license is a little different in its specifications.
- Staff Adjuster – Works directly for an insurance company
- Independent Adjuster – Works for a third-party company who performs insurance adjuster work and is contracted by an insurance company
- Catastrophe (CAT) Adjuster – An independent adjuster who travels to an area that has been largely affected by an event (usually severe weather) and performs claims adjuster services en masse
- Public Adjuster – Is an advocate for the insurance customer, not the insurance company (requires a different type of license)
This article will cover a standard insurance claims adjuster license (sometimes known as an independent adjuster license), not a public adjuster license.
How To Get Your Insurance Adjuster License In New York
Step 1. Adjuster Pre-Exam Education
Preparation for this exam is not something to take lightly, as the average pass rate of insurance exams nationwide is around 55% for first-time test-takers, and even less for any following attempts. We want you to pass your test the first time you take it.
Studying for this exam can take many different forms. The most common way to get prepared is to take an online study course. These courses are generally comprised of video and text with short knowledge quizzes to make sure you have a comprehensive understanding.
A slightly more minimal approach would be to purchase a state-specific study guide. These guides give you all of the facts that you need to pass the exam and maybe a bit less expensive than a course. They are, however, quite long and densely packed books, so be sure you are ready to tackle this task.
You should choose the method that fits best for you. Some people learn best out of a book, while others take in information better through video and short text. Remember, the goal is to pass your exam on the first attempt, so pick your best path forward and study hard.
Step 2. New York Insurance Adjuster License Exam
The next step after completing all your coursework is to take and pass the New York Insurance Adjuster License exam. Depending on the lines of authority you wish to carry, you may need to take more than one exam.
This is a proctored test, which means that you will be in a controlled environment with a person watching over you. For people who haven’t tested in a situation like this should be aware of this fact, and work on taming their nerves prior to sitting for the exam. When you arrive at the exam location you must have a photo ID any other documents that the testing facility has asked you to bring.
New York offers the Independent Accident and Health Insurance Adjuster line, Independent Fire Adjuster line, Independent Casualty Insurance Adjuster line, Independent Automobile Insurance Adjuster line, Independent Aviation Insurance Adjuster line, Independent Fidelity and Surety Adjuster line, Independent Inland Marine Adjuster line, Independent General Adjuster line, Independent Automobile Damage and Theft Appraisal Adjuster line and Independent Motor Vehicle No-fault and Workers Compensation Health Services Adjuster line.
- The Independent Accident and Health Insurance Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent Fire Adjuster exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent Casualty Insurance Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent Automobile Insurance Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent Aviation Insurance Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent Fidelity and Surety Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent Inland Marine Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent General Adjuster license exam consists of one hundred (100) questions, and you have two hours (2:00) to complete it.
- The Independent Automobile Damage and Theft Appraisal Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
- The Independent Motor Vehicle No-fault and Workers Compensation Health Services Adjuster license exam consists of sixty (60) questions, and you have one hour (1:00) to complete it.
An outline of included subjects for these exams can be found here: PSI New York Adjuster License Examinations Content Outline.
If you aren’t sure which lines you need to carry for your specific purposes, you may wish to get in contact with the License Department at (518) 474-6630 or via email.
Each attempt of the exam costs $33 and will be paid when you make your reservation.
A total score of 70% or more is required to pass this test. To further explain the scoring of the exam, we will quote the PSI New York Department of Financial Services Insurance Candidate Information Bulletin
Your score will be given to you immediately following completion of the examination. In order to pass the examination, you must achieve a minimum score of 70%.
Your results will be given to you immediately following completion of the examination.
– If you pass, you will receive an examination result report which will indicate “PASS”
– If you do not pass, you will receive a diagnostic report indicating your strengths and weaknesses”
Insurance license tests are intentionally difficult, but not impossible by any means. You should study to the point of comfortability with the information before you attempt the test. Failing the exam isn’t the end of the world, but keep in mind that you will need to pay the fee each time you attempt the test.
Tip:StateRequirement recommends that you study for one exam at a time, then after passing, starting on your next line. The exams are difficult enough on their own without confusing information from one line to another.
You may register to take your exams and find more information on the PSI New York Insurance Page or by calling PSI at (800) 733-9267.
Step 3. Fingerprinting and Background Check
The State of New York requires that all insurance license applications provide fingerprints prior to licensing. Giving your fingerprints will initiate a background check. If you have any prior misdemeanors or felonies, this may affect the outcome of your licensing efforts. If you have specific questions regarding things that may come up on your background check you may call the New York Department of Financial Services at (518) 474-6630 or send them an email.
You must make your fingerprinting reservations through IdentoGO. When prompted to enter the code, use 1544S3. Appointments can be made on their website or by phone at (877) 472-6915.
The fee for fingerprinting services is $87.
At your fingerprinting appointment, you will not receive a fingerprint card. You will, however, receive a receipt. Do not throw this receipt away. You need to make a copy of this receipt, as you will be sending one in a later step.
Step 4. Execution of New York Surety Bond
A bond in the amount of $1,000 must be submitted with your application. It must cover the licensing period from the date issued to the expiration date.
Step 5. New York Insurance Adjuster License Application
Once you have completed your exams and fingerprinting, you are now ready to apply for your license.
The fee for an application is $100 for a full year while $50 for a half year.
A “full year” is when your application date falls on any day of an odd year while a “half-year” is when your application date falls on any day of an even year.
Take 2019 (odd year) as an example, if you apply for a license on any day of 2019, its expiration date is on the 31st of December 2020 (even year), therefore you would pay $100, the amount for a full year application fee. On the other hand, if you are applying for a license on any day of 2020 (even year), you are going to pay $50, the amount for a half year application fee. Your license will also expire on the 31st of December 2020.
To access the adjuster online application, visit the DFS Portal. When supporting documentation is required, documentation must be uploaded with the online application.
You must email the Insurance Licensing Department to obtain a paper application and instructions. Submit your application with the check for the application fee, bond documents, exam results letter, and the fingerprint receipt.
Step 6. Application Review
Once you have submitted your application and have completed all the other requirements, your license application will be reviewed by the state. This process generally takes about sixty to ninety (60-90) days. Depending on the results of your background check, the Department of Insurance may request more information or documentation.
You’ve done the work, put in the time and effort, and now hold the key to your own success! We’re proud of you. Take five (5) minutes and celebrate.
New York Department Of Insurance Contact Information
New York State Department of Financial Services
One State Street
New York, New York 10004
Phone: (518) 474-6630
Email: [email protected]
Information on this page has been gathered by a multitude of sources and was most recently updated in February 2021.
Any Information on this site is not guaranteed or warranted to be correct, accurate, or up to date. StateRequirement and its members and affiliates are not responsible for any losses, monetary or otherwise. StateRequirement is not affiliated with any state, government, or licensing body. For more information, please contact your state's authority on insurance.
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