NM P&C case studies
NM P&C · Put your knowledge to work in context.
The New Mexico Property and Casualty Insurance Producer License is the state credential that permits an individual to sell, solicit, and negotiate property and casualty insurance in New Mexico. Licensing is administered by the New Mexico Office of the Superintendent of Insurance (OSI), which states that it oversees and regulates most kinds of insurance in the state and licenses the individuals and agencies that sell insurance. The NM P&C case studies are 5 cases and about 3,838 words.
1The Undisclosed Basement Apartment
Rosa applies for an HO-3 on her 1962 Albuquerque ranch house. The application asks whether any business is conducted on the premises; she answers "no." In fact she rents the converted basement to a tenant for 850 a month and keeps her catering company's commercial freezer in the attached garage.
778 words, about 4 min2Three Losses in One Policy Year
Tom and Ana own a Las Cruces home insured on an HO-3 with Coverage A of 450,000, Coverage C at 50% of Coverage A, a 2,500 all-perils deductible, and a 2% wind/hail deductible. Three things happen in one policy year.
719 words, about 4 min3The Coinsurance Trap
Rio Grande Fabrication LLC insures a Las Cruces plant under a commercial property form with a 90% coinsurance clause. The building's replacement cost is 2,000,000 and the policy limit carried is 1,440,000.
687 words, about 3 min4One Left Turn, Three Claimants
Maria insures two vehicles in Santa Fe with a personal auto policy carrying 25/50/10 liability, 5,000 medical payments, and 25/50 uninsured/underinsured motorist coverage. Her 19-year-old son David lives at home, is licensed, and is listed as a driver.
769 words, about 4 min5The Lapsed License and the Unlicensed Assistant
Elena has held a New Mexico producer license for nine years. While changing agencies she let the license lapse for six weeks, having missed the renewal and her continuing-education hours.
885 words, about 4 min