NC Property & Casualty study guide
NC Property & Casualty · Work through your exam, one topic at a time.
The North Carolina Property and Casualty license is the credential a producer needs to sell, solicit, or negotiate property and casualty insurance in the state. It is issued by the North Carolina Department of Insurance after a candidate passes the state licensing exam, and it is the entry point for people moving into agency sales, customer service, claims-adjacent roles, or independent brokerage. The NC Property & Casualty study guide has 6 sections and about 2,187 words.
01Insurance Principles and Concepts
Insurance transfers a pure risk from an individual to a pool of similar exposure units. A risk is ideally insurable when losses are accidental, definite and measurable, large enough to matter, and spread across many similar units so that the law of large numbers makes aggregate losses predictable.
351 words, about 2 min02North Carolina Insurance Laws, Rules, and Regulations
North Carolina's Commissioner of Insurance is elected statewide, not appointed, and heads the Department of Insurance. The Department licenses producers and insurers, examines company finances, reviews forms and rates, and enforces the Unfair Trade Practices Act and the unfair claim settlement practices rules.
382 words, about 2 min03Property Insurance Basics and Personal Property Coverages
A homeowners policy has two sections: Section I (property) covering the dwelling (A), other structures (B), personal property (C), and loss of use (D); and Section II (liability) covering personal liability (E) and medical payments to others (F). HO-2 broad form - named perils throughout.
361 words, about 2 min04Casualty Insurance Basics and Personal Casualty Coverages
Negligence requires duty, breach, proximate cause, and damages . Defenses include contributory or comparative negligence and assumption of risk.
397 words, about 2 min05Commercial Property Coverages
Commercial property forms cover buildings and business personal property (BPP) - furniture, stock, fixtures, machinery, and tenant improvements. The Building and Personal Property Coverage Form (CP 00 10) is the workhorse; causes of loss forms are Basic, Broad, and Special (special is open perils).
346 words, about 2 min06Commercial Casualty Coverages
The Commercial General Liability policy covers bodily injury, property damage, and personal and advertising injury arising from premises/operations, products/completed operations , and liability assumed in insured contracts. It is written on an occurrence or claims-made basis; claims-made adds a retroactive date and extended reporting periods.
350 words, about 2 min