business insurance

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PostPosted: Tue May 17, 2011 4:45 pm   Post subject: business insurance  

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.

trangthle
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PostPosted: Wed May 18, 2011 7:23 am   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.



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MaxHerr
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PostPosted: Wed May 18, 2011 10:58 am   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.

trangthle
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PostPosted: Wed May 18, 2011 2:20 pm   Post subject:   

Some basic information about Maryland Insurance Producer licensing may be found in this document: http://www.mdinsurance.state.md.us/sa/documents/InitialProducerLicensi ngInstruction04-11.pdf



You can download the "Candidate Information Bulletin" here:

http://candidate.psiexams.com/bulletin/display_bulletin.jsp?ro=yes&act ionname=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.



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MaxHerr
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PostPosted: Wed May 18, 2011 6:52 pm   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.

trangthle
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PostPosted: Wed May 25, 2011 8:47 am   Post subject:   

Different licenses are required such as with condo insurance quotes where property insurance falls.

ronlapere
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PostPosted: Thu Sep 22, 2011 7:01 am   Post subject:   

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



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stevenricherd
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PostPosted: Thu Oct 06, 2011 10:38 am   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.

oliviaskye
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