Title Insurance Agent Licensing

New York had been one of three states that did not license or register title insurance agents. The NYSLTA has advocated for agent licensing for many years. In that time, we have drafted several pieces of legislation and lobbied both the legislature and the former Insurance Department.
 
The Administration Title Agent Licensing Bill of 2014
On January 21, 2014, Governor Andrew Cuomo presented his budget. The budget bill included a change to the Insurance Law to license title insurance agents.
 
This bill - designated S6357-D Part V / A8557-D Part V - was passed by the Legislature and signed into law by Governor Cuomo on April 1, 2014.
 
Click here to download S6357-D Part V/A8557-D Part V
 
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Proposed Regulations (published July 23, 2014)
 
NOTE - The DFS issued proposed regulations for the land title insurance industry, subject to a period of public review and comment. The comment period ends on September 9, 2014.
(Click to download the selected pages from the NYS Register)

PROPOSED RULE MAKING
Title Insurance Agents, Affiliated Relationships, and Title Insurance Business
I.D. No. DFS-29-14-00014-P

Part 35

 

Erratum re: Part 35 REg. 206- NYS Register Aug 6, 2014

 

In May 2014, The Executive Committee formed a Regulatory Review Committee. The Committee conducted a detailed examination of the proposed rules and issued a report to the Executive Committee. After consideration and further review, the Executive Committee approved the recommendations and submitted them to the DFS.

 

NYSLTA Comments on Proposed Rules (Aug 14, 2014)

 

LICENSE APPLICATION Q & A

The NYSLTA conducted an extensive conversation with DFS to clarify a number of inquiries submitted by Members. We have consolidated that conversation into a single document using a Q & A format.  

 

CLICK HERE TO DOWNLOAD THE Q & A DOCUMENT

 

NOTICE - The DFS continues to refine and evolve their responses and the Association continues to advocate for standards that are compatible with established business practice.  This document will be updated regularly as we ascertain information from the DFS. This document reflects our current understanding of the DFS position on these questions. 
Please refer to the NYSLTA website for the most current version.
 
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Archival documentation
Click here to download the NYSLTA Memorandum in Support of S6357-D Part V/A8557-D Part V
 
Click here to download the NYSLTA News Release on Title Agent Licensing