ME Property & Casualty case studies
ME Property & Casualty · Put your knowledge to work in context.
The Maine Property & Casualty producer licensing exam is the state's qualifying examination for people who want to sell and service property and casualty insurance in Maine. It is intended for new producer applicants, career changers moving into agency or carrier roles, and licensed staff who need to add a property and casualty line. The ME Property & Casualty case studies are 5 cases and about 3,867 words.
1The Espresso Machine Fire: Subrogation, Insurable Interest, and Indemnity
Larry owns a four-unit apartment building in Bangor insured under a commercial property policy on a replacement cost basis (building RC 600,000; ACV 420,000) with a 5,000 deductible. His lease with tenant Tina requires her to carry 300,000 of liability insurance and contains this clause: "Landlord and Tenant each waive all rights of recovery against the other for loss by fire, regardless of cause." Last month a cord on Tina's espresso machine ignited a fire causing $150,000 of building damage.
730 words, about 4 min2The Frozen Sprinkler Line: Coinsurance Math and Concurrent Causation
operates a restaurant in Westbrook. Its commercial property policy shows: building, replacement cost, limit 720,000, 80% coinsurance, 5,000 deductible; business personal property 200,000 at replacement cost with no separate coinsurance entry.
767 words, about 4 min3The Roof Fire: Your Work, Additional Insured Status, and the Injured Roofer
Ridgeline Roofing, a subcontractor, replaced the roof on a 20,000-square-foot warehouse owned by Beacon Realty and leased to Northline Distributors. Ridgeline's commercial general liability policy is occurrence-based with a 1,000,000 each-occurrence limit and includes a blanket additional insured endorsement naming Beacon as an additional insured.
809 words, about 4 min4Diane's Portland Practice: Licensing, Referral Fees, and Premium Trust
Diane is a producer licensed in Maine with an office in Portland. Three situations arise in one week.
811 words, about 4 min5The Red-Light Collision: Splitting Maine Minimum Limits
Mark, a Portland resident, insures his sedan under a personal auto policy written at Maine's minimum financial responsibility limits: 50,000 per person / 100,000 per accident bodily injury and 25,000 per accident property damage, with a 500 collision deductible and uninsured motorist coverage at the same limits (no written rejection on file). His 19-year-old daughter Ava is a resident relative and an insured driver on the policy.
750 words, about 4 min