Overview Section 1677 of the California Insurance Code (CIC) requires that the Property Broker-Agent examination be of sufficient scope to satisfy the Insurance Commissioner that an applicant has basic knowledge of insurance and insurance laws. Basic knowledge is what this typical new Property Broker-Agent needs to know at the start of one’s career. (1) The most specific knowledge is required in the following areas: General insurance concepts and principles Insurance Code and Ethics Responsibilities and authority of a Property Broker-Agent Businessowner’s Policy Commercial Property Earthquake Coverage Flood Insurance Insurance Homeowner’s Personal Property (2) To a lesser degree knowledge is required of: A general understanding of all other lines of insurance As defined by the National Association of Insurance Commissioner’s Producer Licensing Model Act, a Property Broker-Agent’s lines of authority are defined as insurance coverage for the direct or consequential loss or damage to property of any kind. The list below contains a sample of some of the insurance products that can be transacted with this license. Businessowners Policy (BOP) covers small and medium sized businesses. of integrated property coverage, general Business owner’s policies basically consist liability coverage and some additional types of coverage that most businesses require. Optional coverages can also be added to meet specific needs of the business. Auto and are generally excluded. worker’s compensation Commercial Multiple Peril is a package insurance policy that provides both liability and property coverage for businesses and other organizations. Commercial Property Coverage applies to real property (such as buildings, factories and warehouses) and business personal property (furniture, fixtures and inventory). It commonly provides time element coverages such as loss of income.
Overview Section 1677 of the California Insurance Code (CIC) requires that the Property Broker-Agent examination be of sufficient scope to satisfy the Insurance Commissioner that an applicant has basic knowledge of insurance and insurance laws. Basic knowledge is what this typical new Property Broker-Agent needs to know at the start of one’s career. (1) The most specific knowledge is required in the following areas: General insurance concepts and principles Insurance Code and Ethics Responsibilities and authority of a Property Broker-Agent Businessowner’s Policy Commercial Property Earthquake Coverage Flood Insurance Homeowner’s Insurance Personal Property (2) To a lesser degree knowledge is required of: A general understanding of all other lines of insurance As defined by the National Association of Insurance Commissioner’s Producer Licensing Model Act, a Property Broker-Agent’s lines of authority are defined as insurance coverage for the direct or consequential loss or damage to property of any kind. The list below contains a sample of some of the insurance products that can be transacted with this license. Businessowners Policy (BOP) covers small and medium sized businesses. Business owner’s policies basically consist of integrated property coverage, general liability coverage and some additional types of coverage that most businesses require. Optional coverages can also be added to meet specific needs of the business. Auto and worker’s compensation are generally excluded. Commercial Multiple Peril is a package insurance policy that provides both liability and property coverage for businesses and other organizations. Commercial Property Coverage applies to real property (such as buildings, factories and warehouses) and business personal property (furniture, fixtures and inventory). It commonly provides time element coverages such as loss of income.
PreLicEduObjPR.docx