NH Property & Casualty study guide
NH Property & Casualty · Work through your exam, one topic at a time.
The New Hampshire Property and Casualty Insurance Producer license is the credential that lets you sell and service homeowners, auto, commercial property, inland marine, liability, and workers' compensation coverage in the state. Candidates usually need it because an employer, an agency, or a carrier requires a licensed producer before you can solicit business, discuss coverage, or earn commission on a policy. The NH Property & Casualty study guide has 6 sections and about 2,281 words.
01New Hampshire Insurance Laws, Rules, and Regulations
New Hampshire's Insurance Code is administered by the Insurance Department, headed by a Commissioner nominated by the Governor and confirmed by the Executive Council. The Commissioner licenses producers and insurers, reviews policy forms, oversees rates under a competitive rating framework, conducts financial and market-conduct examinations, and enforces the unfair trade practice and unfair claim settlement practice statutes.
421 words, about 2 min02General Insurance Concepts and Principles
Insurance transfers pure risk (loss or no loss), never speculative risk (loss or gain). A peril is the cause of loss; a hazard is a condition that increases the chance or severity of loss - physical, moral (dishonesty), or morale (indifference).
377 words, about 2 min03Property Insurance Fundamentals
Property policies insure direct physical damage to covered property - the structure, business personal property, and on some forms personal property away from premises. Named-peril forms cover only listed causes, and the insured must prove the loss fits.
384 words, about 2 min04Casualty Insurance Fundamentals
A casualty claim requires legal liability. Negligence needs duty, breach, proximate cause, and damages.
370 words, about 2 min05Property Insurance Policy Types and Coverages
Homeowners forms differ mainly by perils and valuation. HO-2 is broad named peril; HO-3 insures the dwelling on an open-peril basis but personal property for named perils only; HO-5 is open peril on both; HO-4 is tenants (contents and liability, no building); HO-6 is condominium unit-owners; HO-8 is for older homes and uses functional replacement cost.
355 words, about 2 min06Casualty Insurance Policy Types and Coverages
A personal auto policy has five parts: A liability, B medical payments, C uninsured/underinsured motorists, D collision, and other than collision (comprehensive). Coverage may be written as split limits (25/50/25) or a combined single limit.
374 words, about 2 min