NE Property & Casualty study guide
NE Property & Casualty · Work through your exam, one topic at a time.
The Nebraska Property and Casualty Producer License is a state-issued credential that allows a person to solicit, negotiate, and sell property and casualty insurance in Nebraska. Licensing is administered by the Nebraska Department of Insurance, whose website at doi.nebraska.gov is the authoritative source for producer licensing and registration, guidance documents, and any actions taken against agents or agencies. The NE Property & Casualty study guide has 5 sections and about 1,807 words.
01Insurance Regulation in Nebraska
Nebraska insurance is regulated by the Nebraska Department of Insurance, headed by the Director of Insurance, who is appointed by the Governor. The Department admits insurers (a certificate of authority ), licenses producers and adjusters, reviews policy forms and rates, conducts market-conduct and financial examinations, and enforces the state's unfair trade practice statute.
392 words, about 2 min02General Insurance Concepts
Risk is uncertainty about loss; a peril is the cause of loss (fire, wind, theft); a hazard increases the chance or severity of loss. Physical hazards are tangible (oily rags).
359 words, about 2 min03Property Insurance Basics
Every property form has declarations (who, what, where, how much, deductible), an insuring agreement (the promise), conditions (duties after loss, appraisal, other insurance, mortgage clause), exclusions , and definitions . A binder provides temporary evidence of coverage.
337 words, about 2 min04Casualty Insurance Basics
Liability insurance responds to the insured's legal liability for injury to others. Negligence requires duty, breach, proximate cause, and damages .
349 words, about 2 min05Types of Property and Casualty Policies
The personal auto policy has six parts: A liability, B medical payments, C uninsured/underinsured motorists, D damage to your auto (collision and other-than-collision), E duties after an accident, F general provisions. Key extensions: a newly acquired auto gets coverage for a limited window (often 14 days for collision, longer for liability), and a non-owned auto is covered while the insured drives someone else's car with permission.
370 words, about 2 min