III IC-29 case studies
III IC-29 · Put your knowledge to work in context.
III IC-29 is an insurance industry certification exam delivered in multiple-choice format and organised around nine knowledge domains. It is aimed at candidates who need a broad, working command of insurance rather than a narrow specialism: new entrants building a foundation, agency and broker staff who advise clients across lines, claims and underwriting support staff, and compliance or operations personnel who need to understand the products they administer. The III IC-29 case studies are 5 cases and about 3,184 words.
1Coinsurance, Market Value, and the Agent's File
Northgate Holdings owns a 1978 strip mall insured under a commercial property policy with a 1,800,000 building limit, 80% coinsurance, replacement-cost settlement, and a 10,000 deductible. At the time of a fire, the building's replacement cost is 2,600,000 and its actual cash value is 1,500,000.
618 words, about 3 min2Unlicensed Activity, Rebating, and the Lapsed Appointment
Coastal Commercial Agency is appointed by five carriers in State A. Its producer, Luis, is licensed in State A but not State B.
638 words, about 3 min3Replacement Policy, Oxygen Tank, and the Contestable Death Claim
At age 57, Diane applied for a 750,000 universal life policy to replace a 400,000 whole life contract. On the March 1 application she answered “no” to tobacco use in the past five years and “no” to COPD or oxygen use.
645 words, about 3 min4Certificate of Insurance, Completed Operations, and the Collapsed Roof
Riverside General Contractors hired Summit Roofing to replace a warehouse roof under a contract requiring Summit to name Riverside as an additional insured on its commercial general liability policy, including products-completed operations, primary and noncontributory, with a waiver of subrogation, 1 million per occurrence and 2 million aggregate. The certificate of insurance listed Riverside as additional insured, but the attached endorsement added Riverside only for “ongoing operations.” Three months after final acceptance, a section of the new roof collapsed, injuring a delivery driver and damaging $300,000 of Riverside's stored inventory.
609 words, about 3 min5Policy-Limits Demand, Multiple Claimants, and the Umbrella Business-Use Exclusion
Elena has a personal auto policy with bodily injury limits of 100,000 per person/ 300,000 per accident and property damage of 50,000. While driving to a client meeting, she runs a red light and causes a three-car collision.
674 words, about 3 min