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What Is a Property and Casualty Insurance License?

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  • Written By: Mary McMahon
  • Edited By: Shereen Skola
  • Last Modified Date: 28 September 2014
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    Conjecture Corporation
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A property and casualty insurance license allows a representative to sell products like car, home, and renter’s insurance. Such licenses are often required of insurance agents, who may also need to apply for other certifications to sell health and life insurance, along with other products. Regulation is designed to protect consumers by requiring agents to be familiar with the basics of handling insurance policies and the regulations that may apply in the event of a claim. Insurance agencies may sponsor employees wishing to apply for licenses, paying for training and the examination required to receive a license.

The precise requirements to obtain a property and casualty insurance license depend upon the region. Applicants usually need to complete a set number of hours of classroom education with an accredited organization, like a community college or trade school. Once they have finished their hours requirement, they can apply to sit for an examination. In the test, the questions cover the basics of handling insurance policies and applicable regulations. Representatives who pass become licensed insurance agents.

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It may be necessary to periodically renew a property and casualty insurance license. The documentation may expire after a certain period of time to force agents to retake the examination, and some areas have continuing education requirements. These ensure that representatives keep up with changes to the law and other events that might affect sales practices and the types of insurance products they sell. Customers can look up insurance agents with regulatory authorities to determine if they are in good standing.

People who want to insure assets like cars, businesses, and homes may need to work with an agent who has a property and casualty insurance license. This license can also allow an agent to sell worker’s compensation insurance and related products. Many agents also choose to apply for additional licenses so they can meet all the potential needs of their customers. Homeowners might want to take out a life insurance policy, for example, and don’t want to be forced to go to a different agent to write that policy. Each license usually requires different training and its own examination.

Insurance agencies hiring new agents may prefer people with experience, training, and valid licenses, especially if they need to fill an immediate vacancy. In other cases, trainees without licenses may be accepted. They can get work experience in the office while they work to satisfy the hours requirement and prepare to take the property and casualty insurance license examination.

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