MI Property & Casualty case studies
MI Property & Casualty · Put your knowledge to work in context.
The Michigan Property and Casualty Insurance Producer license is the credential a person needs to sell, solicit, or negotiate fire, homeowners, dwelling, auto, commercial package, and workers' compensation coverage in the state. It is issued by the Michigan Department of Insurance and Financial Services (DIFS) after an applicant completes prelicensing education, passes the state licensing exam, submits fingerprints, and applies for the license. The MI Property & Casualty case studies are 5 cases and about 2,348 words.
1Choosing a Michigan PIP Limit With a Long-Term Care Exposure
Denise, 61, lives in Grand Rapids and drives about 40 miles a week to a part-time job. She has Medicare Parts A and B but no other health coverage, plus a prior lumbar fusion that her physician says could eventually require help with dressing, bathing and transfers.
480 words, about 2 min2Home-Based Business Fire in a Detached Garage Under an HO-3
The Okonkwos own a 1952 home insured on an unendorsed HO-3 (HO 00 03 05 11) with Coverage A 350,000, Coverage C 175,000, replacement cost on the dwelling, and a 1,000 deductible. Fourteen months ago they converted the detached garage into a candle-making business, storing 28,000 of finished inventory and 9,000 of wax and supplies there.
491 words, about 2 min3Coinsurance Penalty on a Blanket Commercial Property Limit
Precision Stamping & Fabrication in Grand Rapids runs 26 employees in one building. Its commercial property program carries a blanket limit of 2,800,000 applying to building and machinery/equipment, replacement cost, 90% coinsurance, and a 5,000 deductible.
434 words, about 2 min4Subcontractors, Parking Lots and Owner Coverage in Michigan Workers' Compensation
Ridgeway Roofing is a Michigan sole proprietorship with five full-time employees and a workers' compensation policy written on estimated annual payroll of $180,000. During the busy season Ridgeway uses four additional installers paid on 1099s - two arrive in their own trucks with their own nail guns and set their own hours, two work Ridgeway's schedule with company equipment.
471 words, about 2 min5Premium Trust Account Shortage and an Inaccurate Certificate
Kelvin is a licensed Michigan producer at Bayview Agency. He collected 4,300 in cash from a restaurant client for a package renewal, deposited it in the agency's operating account with payroll and rent, and remitted it to the insurer 45 days later - after the policy had been cancelled for nonpayment and reinstated on a no-loss basis.
472 words, about 2 min