GA Property & Casualty study guide
GA Property & Casualty · Work through your exam, one topic at a time.
The Georgia Property and Casualty Insurance Agent license is the credential a candidate needs before soliciting, negotiating, or selling property and casualty insurance products in Georgia. It is typically pursued by people entering agency sales, customer service, claims support, or captive and independent agency roles, and by professionals adding a P&C line to an existing life or health license. The GA Property & Casualty study guide has 10 sections and about 3,135 words.
01Insurance Regulation and Licensing
Insurance is regulated mainly at the state level. The McCarran-Ferguson Act (1945) left regulation to the states and gave insurers a limited antitrust exemption; there is no federal agency that licenses producers.
325 words, about 2 min02General Insurance Concepts and Principles
Risk is uncertainty about loss. Only pure risk (chance of loss or no loss) is insurable; speculative risk (chance of gain) is not.
305 words, about 2 min03Property Insurance Basics and Policy Structure
Every policy has declarations (who, what, how much, when), an insuring agreement (the promise), conditions (duties after loss, appraisal, other insurance, pair and set, abandonment), exclusions , and definitions . Endorsements amend the base form and control in a conflict.
296 words, about 1 min04Casualty Insurance Basics and Liability Concepts
Liability coverage pays on behalf of an insured who is legally obligated to pay damages because of bodily injury or property damage to someone else. It does not pay the insured's own injuries (that is first-party medical payments or workers compensation) and generally does not pay punitive damages or intentional acts.
320 words, about 2 min05Dwelling Policy
The dwelling program is a property-only line for 1-4 family residences that are owner-occupied or rented to others, plus the contents of a rented apartment. Its biggest exam trap: there is no Section II liability coverage - no personal liability, no medical payments.
317 words, about 2 min06Homeowners Policy
Homeowners is a package. Section I property: A Dwelling, B Other Structures (usually 10% of A), C Personal Property, D Loss of Use.
323 words, about 2 min07Personal Auto Policy
A - Liability, B - Medical Payments, C - Uninsured/Underinsured Motorists, D - Damage to Your Auto, E - Duties After an Accident. The PAP is a personal lines policy for a private passenger auto owned or leased by an individual.
323 words, about 2 min08Commercial Package Policy and Commercial Property/Casualty Coverages
The CPP wraps two or more coverage parts into one policy with common declarations, common conditions, and interline endorsements. Eligible parts include commercial property, commercial general liability, crime, inland marine, equipment breakdown, commercial auto, and farm.
296 words, about 1 min09Workers Compensation Insurance
Workers compensation is a no-fault, exclusive remedy system: employees give up the right to sue the employer for most work injuries, and the employer pays statutory benefits regardless of fault. The injury must arise out of and in the course of employment .
317 words, about 2 min10Businessowners Policy and Other Specialty Coverages
The Businessowners Policy is a packaged product for small and medium businesses - offices, retail, service operations, and apartment buildings within stated eligibility limits. It bundles property (usually special form, including business income) with general liability similar to the CGL, plus optional coverages such as outdoor signs, money and securities, employee dishonesty, equipment breakdown, and spoilage.
313 words, about 2 min