C-II.C · Classes of Casualty Insurance
The classes of insurance (Ins. Code §§100-124)
The Insurance Code sorts insurance into classes: §100 lists them and §§101-120 define them. A licensee is appointed to transact certain classes. The outline expects basic familiarity with these classes for a property and casualty licensee:
fire
ocean marine and inland marine
surety
plate glass
liability
workers' compensation
common carrier liability
boiler and machinery
burglary
credit
sprinkler
team and vehicle
automobile
aircraft
Homeowners is not a class. It is a policy that packages several kinds of coverage. Some class names sound dated, such as sprinkler and team and vehicle, but they are still in the Code. Section 121 explains that similar insurance can fall in more than one class, and §120 (miscellaneous) reaches only insurance that is not included in another class.
The licenses follow the same split. Under §1625, a casualty license covers insurance against legal liability, including liability for death, injury, disability or damage to property. Direct or consequential loss to the client's own property, including income lost after a fire, belongs to the property license. The word property in the casualty definition means liability for damaging someone's property.
Remember
· §100 lists the classes; homeowners is a package policy, not a class.
· Casualty license = legal liability; property license = loss to the insured's own property (§1625).
· §120 miscellaneous applies only if no other class fits.
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