CO Property & Casualty study guide
CO Property & Casualty · Work through your exam, one topic at a time.
The Colorado Property & Casualty producer license is issued by the Colorado Division of Insurance (DOI), the state agency that regulates the insurance industry in Colorado and monitors insurance companies and agents to make sure everyone is following the law. Holding the license allows a producer to sell and service property and casualty insurance in Colorado. The CO Property & Casualty study guide has 4 sections and about 1,308 words.
01Insurance Principles and Concepts
Insurance transfers pure risk (chance of loss only) rather than speculative risk (chance of gain or loss). Know the vocabulary chain: exposure unit (what is insured), peril (the cause of loss, e.g., fire, wind, theft), hazard (a condition that increases the chance or severity of loss), loss , and proximate cause .
330 words, about 2 min02Property Insurance Basics and Coverages
Know the forms by number: HO-2 (broad named perils on both building and contents), HO-3 (open-peril dwelling, broad named-peril contents), HO-5 (open peril on both), HO-4 (tenants - contents and liability, no Coverage A), HO-6 (condo unit-owner), HO-8 (older homes, modified/functional replacement cost). Coverages run A dwelling, B other structures, C personal property, D loss of use, E personal liability, F medical payments to others.
321 words, about 2 min03Casualty Insurance Basics and Coverages
Negligence requires duty, breach, proximate cause, and damages . Liability can also arise without fault (workers compensation, certain statutes) or vicariously (employer responsible for employees acting in scope).
323 words, about 2 min04Colorado Insurance Laws, Rules, and Regulations
The Colorado Division of Insurance, part of the Department of Regulatory Agencies (DORA), is headed by the Commissioner of Insurance. Producers must hold a license for each line sold, be appointed by each insurer they represent, and renew on a two-year cycle with 24 hours of continuing education, including at least 3 hours of ethics .
334 words, about 2 min