business insurance

Submitted by trangthle on Tue, 05/17/2011 - 16:45

I want to sell business insurance (general liability/worker's compensation/ ....). What course should I take? what license should I need? what company should I go? ...please help me with more detail information. I appreciate it.

Posted: 18 May 2011 07:23 Post Subject:

What state are you in? You will need a Property & Casualty license. In California, as of January 1, 2011, this is now two separate licenses (it is also the same in a number of other states, too).

Many states require a formal prelicensing education course before you can take the license exam. But without knowing what state you are in, we can't help you very much.

Posted: 18 May 2011 10:58 Post Subject:

Max Herr, thank you for your reply. I am in MD-VA-DC areas.

I tried to call one of the state : Maryland licensing department, the people there do not know this type of insurance at all !! so, they are not of any help.

Thank you.

Posted: 18 May 2011 02:20 Post Subject:

Some basic information about Maryland Insurance Producer licensing may be found in this document: http://www.mdinsurance.state.md.us/sa/documents/InitialProducerLicensingInstruction04-11.pdf

You can download the "Candidate Information Bulletin" here:
http://candidate.psiexams.com/bulletin/display_bulletin.jsp?ro=yes&actionname=83&bulletinid=224&bulletinurl=.pdf

You must complete an approved Prelicensing Education Course. The Prelicensing Education requirements are shown on page 3 of that document, and information about approved prelicensing education providers is available at the PSI website: http://www.psionline.com/programs/MDIN/Approved_P_C.pdf

When it comes to prelicensing education providers, be sure to look at the statistics: http://www.psionline.com/PROGRAMS/mdin/mdins.pdf
Just because a course is inexpensive doesn't mean it's good. You'll notice that exam FAILURE rates vary from 0% to 60% by provider. Choose one that has a failure rate of less than 20%. The five most-used providers have FAILURE rates of: 22%, 30%, 18%, 38%, and 29%. Only one is "acceptable" in this list. But a number of providers have 0% failure rates (yes, the number of students is low, but what difference does that make if 100% pass the exam? You HAVE TO PASS the exam to be licensed!).

For Virginia, the licensing Handbook can be found here:
http://www.asisvcs.com/publications/pdf/125300.pdf

If you are a resident in either state, you apply for a resident license in that state. If you want to be licensed in the other state, once you have your resident license, you apply for a non-resident license in the other state.

For D.C. -- the appropriate information (by links) may be found here:
http://www.disb.dc.gov/disr/cwp/view,a,1300,q,641154.asp#producers

Hope this helps.

Posted: 18 May 2011 06:52 Post Subject:

I am very impressed of how quick you help me with all useful information. I thank you very much, MaxHerr.

One more and last question: I just need Property and Casualty license to sell business insurance. With Property and Casualty license, I can sell home insurance as well, can't I? I have Life&Health license, but I do'nt think it would help with business insurance at all!

Thank you.

Posted: 22 Sep 2011 07:01 Post Subject:

Thanks to all the members for their valued suggestions for this query, i learned something new from this discussion.

Posted: 06 Oct 2011 10:38 Post Subject:

hi to all..
i appreciate this forum.
this is very serious question, i think you should consult with loss assessor. we all only give my views but not a perfect answer.

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