MA Property & Casualty case studies
MA Property & Casualty · Put your knowledge to work in context.
Massachusetts requires anyone who sells, solicits, or negotiates property and casualty insurance in the Commonwealth to hold a producer license issued by the Division of Insurance (DOI), the state agency whose stated mission is to monitor the solvency of its licensees and to promote a healthy, responsive and willing marketplace for consumers who purchase insurance products. The DOI licenses insurance companies and producers, reviews and approves rates and forms, and addresses consumer complaints. The MA Property & Casualty case studies are 5 cases and about 4,011 words.
1Coinsurance, Deductible and a Lease Waiver on an Apartment Fire
Harborview Holdings LLC owns a four-unit apartment building in Lowell. Replacement cost is 1,600,000, but the LLC, squeezed by a refinance, insured the building for 1,000,000 on a commercial property form with an 80% coinsurance clause, replacement cost valuation, and a 5,000 deductible.
782 words, about 4 min2Comparative Fault, Additional Insured Status and Defective Herbicide Work
Greenline Landscape Contractors maintains the grounds at Maple Ridge Condominium Association under a one-year vendor contract. Greenline carries CGL at 1,000,000 each occurrence / 2,000,000 general aggregate, plus 5,000 medical payments.
810 words, about 4 min3Commingled Premium, a Lapsed License and a Gift Card
Dana holds a Massachusetts individual producer license and works at a three-person agency in Worcester. On March 3 she collects a 12,000 check from Vinh, who owns a 40-seat restaurant, for the annual premium on his commercial package policy.
790 words, about 4 min4Massachusetts Minimum Limits, PIP and the Underinsured Motorist Offset
Dan, a Chelmsford driver, buys only the Massachusetts compulsory auto coverages: bodily injury to others at 20,000/ 40,000, damage to someone else's property at 5,000, and 8,000 of PIP. He signed the written rejection of underinsured motorist coverage to save premium.
804 words, about 4 min5Business Income, Extra Expense and a Grid Failure at a Bakery-Cafe
Baked & Byte is a 2,200-square-foot bakery-cafe in Salem. Its businessowners policy shows building 450,000, business personal property 150,000, and business income on an actual-loss-sustained basis with a 72-hour waiting period; one 2,500 deductible applies to all coverage parts.
825 words, about 4 min