Property And Casualty Insurance License

There are several requirements needed in order for you to qualify for a property and casualty insurance license. Below is a list of these property and casualty insurance license requirements. These property insurance license requirements are separated into two segments – property and casualty insurance license for resident agents and property and casualty insurance license for non-resident agents.

Property and Casualty Insurance License Requirements for Resident Agents

A property and casualty insurance licensee may handle all lines, including property, casualty, surety, and miscellaneous lines of insurance. In order to apply for a property and casualty insurance license, an agent must have all the following requirements.

A property and casualty insurance licensed agent must be a natural person and at least 18 years of age. In order for you to become a property and casualty insurance licensed agent, you must also be a bona fide resident of the state where you will be practicing your profession. You also must need to take and pass the required property and casualty insurance license exam.

An important fact to take note of: Applicants who hold the designation of CPCU and have employed insurance business practices within the past four years need not apply for a property and casualty insurance license. If you have CPCU credits coupled with an original letter from the American Institute for Property and Liability Underwriters certifying your designation status, you are not required to sit for the property and casualty insurance license exam.

In order to qualify for the property and casualty insurance license, you need to have or maintain a business which is located within the state. This place of business must be identifiable by and accessible to the public when you apply for a property and casualty insurance license. Also, when applying for a property and casualty insurance license, you also need to be actively engaged in the business of insurance. The level of activity required of your insurance business stated in your property and casualty insurance license application manual may vary from state to state.

When securing a property and casualty insurance license, it might be advisable to keep a letter of clearance handy. Your fingerprints will also be needed when you apply for a property and casualty insurance license.

Unless you're a CPCU, you will need to meet the educational requirement of completing a state-approved 200-hour classroom course before you can apply and qualify for a property and casualty insurance license. Also, in order to qualify for a property and casualty insurance license, you would need to have successfully completed an approved correspondence course with at least six months of experience in insurance duties, or one year as a full-time bona fide insurance employee, or at least 15 semester hours of credit from an accredited institution, college, or university, or have taught approved classroom courses.

Property and Casualty Insurance License Requirements for Non-resident Agents

The requirements for non-resident agents applying for property and casualty insurance license are quite similar to those of resident agents. Non-resident agents also need to be at least 18 years of age in order to qualify for a property and casualty insurance license. Non-resident property and casualty insurance licensee must not have a place of business or any direct or indirect pecuniary interest in any insurance group in the state he is applying for.