Property and Casualty Insurance Careers - Getting Started!

Property and Casualty Insurance Agent, Producer, and Broker License Training
Why would you want to be a property, casualty insurance agent?

Did you know that 95% of American households have a vehicle? Every state requires insurance coverage on each of those vehicles. If you have a mortgage the mortage company is going to require homeowners insurance on the property. So, if you are looking for a career with job security, Property and Casualty Insurance just might be the right fit for you.

Agents, also called producers, who sell property and casualty insurance provide individuals and families with the protection needed in case of a car accidents, injuries inflicted at home, and natural disasters; such as floods, earthquakes, or fire.

What is casualty insurance?

Casualty insurance is mainly liability coverage for negligent acts or omissions. One of the most common kinds of casualty insurance is automobile insurance, which can cover repair or replacement of damaged property and some medical expenses for the individuals involved in the accident.

What is property insurance?

Property insurance provides protection against risks to property, such as fire, theft and some weather damage.

What do property, casualty agents do?

Property and Casualty Insurance Agents will spend time getting to know their clients to assess the value of vehicles and property. Then the agent works with the insurer or insurers they represent to find the best policy for their customer's needs. In addition to soliciting business, insurance agents are expected to maintain accurate records and help their clients settle their insurance claims.

Property and Casualty Insurance might be needed by almost every adult in your state, but it is a highly competitive industry. Agents usually need to find their own clients, and to keep them. Some agents work directly for a specific insurer (captive agents), while other agents work with multiple insurers (brokers). Most agents and their staff also collect initial and ongoing premium payments.

Insurance fraud

Billions of dollars each year are paid out to fraudulent property and casualty claims. Insurance is highly regulated to combat this, and agents are expected to be the first line of defense. Agents must not knowingly participate in any fraudulent claims or engage in any other activities which would cause their license to be suspended. Agents should show good character and be trustworthy.

Insurance licensing and continuing education

All insurance agents (persons involved in the solicitation, selling or negotiation of insurance) must be licensed by the state where they sell insurance. Each state has their own specific laws, but all require the passing of their state's licensing exam. To be able to pass the insurance licensing exam the prospective agent will need to complete insurance coursework including insurance fundamentals and the state-specific insurance laws. In addition insurance agents are required to take continuing education courses prior to license renewal, to stay current with law and industry changes. Continuing education focuses on insurance law, consumer protection, ethics and various aspects of the types of polices being sold.

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