NY A07129

Creates three new lines of insurance authority: CREDIT (life, accident and health, unemployment, and creditor gap insurance), CROP (multi-peril crop insurance), and SURETY (bonds and contracts excluding bail bonds)

Reduces pre-licensing course requirements from 40-90 hours to 20 hours per line of authority for insurance agents and brokers, and requires course providers to file biennial applications with the superintendent for approval with filing fees of $200 per organization, $50 per course, and $50 per instructor

Requires independent adjusters to complete either one year of insurance industry experience or 40 hours of formal training before taking licensing examinations

Authorizes the superintendent of insurance to require fingerprint submissions from applicants for Article 21 licenses for criminal history record checks, with procedures for applicants to challenge inaccurate information

Permits non-resident adjusters to be licensed on a reciprocal basis if their home state awards non-resident licenses to New York residents on equivalent terms; increases continuing education requirements for brokers from 15 to 24 credit hours per biennial period, with 3 hours required in ethics