New York Property & Casualty Insurance License Exam Overview
The New York Property & Casualty Insurance Exam is administered by Prometric on behalf of the New York Department of Financial Services (DFS). New York has some of the strictest insurance regulations in the nation, including the highest mandatory PIP coverage requirements.
Passing this exam qualifies you to sell property, casualty, and auto insurance in New York—the 4th largest state by population with over 19 million residents and a massive market for personal and commercial insurance.
Exam Format at a Glance
| Component | Details |
|---|---|
| Total Questions | 110 multiple-choice |
| Time Limit | 2 hours |
| Passing Score | 70% (77 correct answers) |
| Exam Fee | $15 |
| Pre-licensing Education | 90 hours required |
| Testing Vendor | Prometric |
| License Term | 2 years |
Why Get P&C Licensed in New York?
- Massive market — Over 19 million residents
- Highest PIP requirement — $50,000 mandatory coverage
- Commercial hub — NYC business insurance needs
- Strict regulations — DFS oversight ensures professionalism
- High premiums — Greater earning potential
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Key Topics Covered on the Exam
1. Property Insurance (30%)
Homeowners Insurance:
- HO-2, HO-3, HO-4, HO-5, HO-6, HO-8 forms
- Coverage A through F breakdown
- Additional living expense coverage
- Personal property coverage limits
NY FAIR Plan:
- Fair Access to Insurance Requirements
- Insurer of last resort for fire coverage
- Eligibility requirements
- Coverage limitations vs. standard policies
Commercial Property:
- Building and personal property coverage
- Business interruption insurance
- Causes of loss forms (Basic, Broad, Special)
- Coinsurance requirements
2. Liability Insurance (30%)
Personal Liability:
- Homeowners liability coverage (Coverage E)
- Personal umbrella policies
- Medical payments coverage
Commercial Liability:
- Commercial General Liability (CGL)
- Professional liability (E&O)
- Products and completed operations
- NY workers' compensation requirements
Workers' Compensation:
- NY State Insurance Fund (NYSIF)
- Employer coverage requirements
- Benefits and claims process
- Monopolistic state fund option
3. Auto Insurance (25%)
New York Mandatory Coverages:
| Coverage | Minimum Requirement |
|---|---|
| Bodily Injury (per person) | $25,000 |
| Bodily Injury (per accident) | $50,000 |
| Property Damage | $10,000 |
| Personal Injury Protection (PIP) | $50,000 |
| Uninsured Motorist | $25,000/$50,000 |
NY No-Fault System (PIP):
- $50,000 minimum PIP—highest in nation
- Medical expenses covered
- Lost wages coverage
- Serious injury threshold for lawsuits
- Add-on no-fault state (not pure)
Additional Auto Topics:
- Supplementary Uninsured Motorist (SUM)
- Medical payments coverage
- Collision and comprehensive
- NY assigned risk pool
4. New York Insurance Law (10%)
DFS Regulations:
- Department of Financial Services authority
- Regulation 64 (claims practices)
- Unfair claims settlement practices
- Producer licensing requirements
Key NY Regulations:
- Regulation 60 (minimum standards)
- Regulation 68 (auto insurance)
- Regulation 95 (replacement cost)
- Circular Letter compliance
Prohibited Practices:
- Rebating and inducements
- Misrepresentation
- Twisting and churning
- Unfair discrimination
5. Ethics and General Insurance (5%)
Producer Responsibilities:
- Fiduciary duties
- Premium trust requirements
- Client disclosure obligations
- Record retention (6 years minimum)
Continuing Education:
- 15 hours every 2 years
- Includes ethics requirement
- DFS-approved courses only
Study Timeline for Success
| Week | Focus Area | Hours |
|---|---|---|
| Week 1-2 | Property insurance and FAIR Plan | 15-18 |
| Week 2-3 | Liability insurance and workers' comp | 15-18 |
| Week 3-4 | Auto insurance and NY no-fault | 15-18 |
| Week 4-5 | NY Insurance Law and DFS regulations | 10-12 |
| Week 5-6 | Practice exams and review | 12-15 |
Total recommended study time: 65-80 hours (plus 90-hour pre-licensing)
🎯 Free Practice Questions Available
Test your knowledge with hundreds of free practice questions designed specifically for the New York P&C exam.
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New York-Specific Exam Tips
1. Master the $50,000 PIP Requirement
New York has the highest mandatory PIP in the nation:
- $50,000 minimum coverage required
- Covers medical expenses and lost wages
- Understand the serious injury threshold
- Know exceptions and exclusions
2. Know NY Auto Minimums (25/50/10)
New York's liability minimums are specific:
- $25,000 per person bodily injury
- $50,000 per accident bodily injury
- $10,000 property damage
- Plus mandatory PIP and UM coverage
3. Understand DFS Authority
The Department of Financial Services oversees insurance:
- Licensing and regulation
- Claims practices oversight
- Consumer protection enforcement
- Know Regulation 64 (claims)
4. Key Numbers to Remember
| Topic | New York Requirement |
|---|---|
| Passing score | 70% (77/110) |
| Pre-licensing | 90 hours |
| License term | 2 years |
| CE requirement | 15 hours/2 years |
| PIP minimum | $50,000 |
| Auto BI minimums | 25/50 |
Common Mistakes to Avoid
- Underestimating 90-hour requirement — Plan accordingly
- Confusing NY no-fault with pure no-fault — NY is add-on
- Missing DFS regulations — Heavily tested
- Forgetting FAIR Plan details — Know eligibility
- Ignoring workers' comp rules — NYSIF is important
- Not practicing enough — 110 questions is substantial
After Passing Your Exam
- Submit license application to DFS
- Pay license fee ($50 for 2 years)
- Complete background check if required
- Obtain appointment from insurance carrier
- Maintain CE requirements (15 hours/2 years)
- Begin your insurance career in New York
2026 New York Updates
For 2026, be aware of:
- Updated DFS regulations
- PIP coverage changes
- New CE requirements
- Cybersecurity insurance developments
Start Your New York P&C Career Today
The New York Property & Casualty license opens doors to serving one of the nation's largest insurance markets with unique regulations and coverage requirements. With proper preparation, you can pass the exam on your first attempt.
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Our free study materials include:
- ✅ Complete topic coverage
- ✅ Practice questions with explanations
- ✅ NY DFS regulation specifics
- ✅ Study guides and summaries
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