Mich. Admin. Code R. 500.3 - Property , casualty, or personal lines insurance producers and solicitors; curriculum and final examination requirements
Rule 3.
(1) To
qualify as a registered insurance producer/solicitor program of study on the
subjects of property or casualty insurance, a course must provide a minimum of
20 hours of instruction for a property program, 20 hours of instruction for a
casualty program, 20 hours of instruction for a personal lines program, or 40
hours of instruction for a program of study combining property and casualty
curricula.
(2) The 20 hours of
instruction and final examination for a property program must include all of
the following areas, but may be taught in any order or combination the
instructor chooses:
(a) Fourteen hours on the
principles of property insurance, including the following subjects and their
definitions, characteristics, and application:
(i) Fire insurance.
(ii) General property form.
(iii) Home insurance.
(iv) Personal and commercial automobile
insurance.
(v) Inland marine
insurance.
(vi) Commercial package
policies.
(vii) Boiler and
machinery insurance.
(viii) Rates
and rate changes, including coinsurance.
(ix) Business interruption
insurance.
(b) Six hours
on professional ethics and the requirements of the insurance laws of Michigan,
including, but not limited to, the following chapters of the Michigan insurance
code:
(i) Chapter 12 of the code, MCL 500.1200
to 500.1247.
(ii) Chapter 20 of the
code, MCL 500.2001 to 500.2093.
(iii) Chapter 21 of the code, MCL 500.2101 to
500.2131.
(iv) Chapter 31 of the
code, MCL 500.3101 to 500.3179.
(v)
Chapter 45 of the code, MCL 500.4501 to 500.4511.
(3) The 20 hours of instruction
and final examination for a casualty program must include all of the following
areas, but may be taught in any order or combination the instructor chooses:
(a) Fourteen hours on the principles of
liability insurance, including the following subjects and their definitions,
characteristics, and application:
(i) Basic
principles of liability.
(ii)
On-premises insurance.
(iii)
Off-premises insurance.
(iv)
Products and completed operations insurance.
(v) Contractual liability
insurance.
(vi) Comprehensive
general liability insurance.
(vii)
Personal liability insurance as contained in home, auto, and personal umbrella
policies.
(viii) Workers'
compensation insurance.
(b) Six hours on professional ethics and the
requirements of the insurance laws of Michigan, including, but not limited to,
the following chapters of the Michigan insurance code:
(i) Chapter 12 of the code, MCL 500.1200 to
500.1247.
(ii) Chapter 20 of the
code, MCL 500.2001 to 500.2093.
(iii) Chapter 21 of the code, MCL 500.2101 to
500.2131.
(iv) Chapter 31 of the
code, MCL 500.3101 to 500.3179.
(v)
Chapter 45 of the code, MCL 500.4501 to 500.4511.
(4) The 40 hours of instruction
and final examination for a combined property and casualty program must include
all of the following areas, but may be taught in any order or combination the
instructor chooses:
(a) Thirty-four hours on
all of the topics listed in subrules (2)(a) and (3)(a) of this rule.
(b) Six hours on the topics listed in subrule
(3)(b) of this rule.
(5)
A program of study completed under subrule (4) of this rule satisfies the
program of study requirements for personal lines producers and
solicitors.
Notes
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