WV Property & Casualty case studies
WV Property & Casualty · Put your knowledge to work in context.
The West Virginia Property & Casualty Insurance Producer license is issued through the West Virginia Offices of the Insurance Commissioner (OIC), the state agency headed by Insurance Commissioner Erin K. Hunter that regulates insurers, producers and bail bondsmen in West Virginia. The WV Property & Casualty case studies are 6 cases and about 4,105 words.
1Land Contract, Two Owners, One HO-3
Maria signed a 15-year land contract in March selling her rental house to Devon, who moved in and began making payments; Maria keeps the deed until the final payment. Maria moved across town and never told her agent.
719 words, about 4 min2Coinsurance, Concealed Rot, and a Demand for Appraisal
Riverside Mercantile owns a 40-year-old brick store insured on an ISO commercial property form containing an 80% coinsurance clause. The building's replacement cost is 1,000,000; the owner carries only a 600,000 limit to hold the premium down, with a 5,000 deductible and replacement cost settlement on the building.
525 words, about 3 min3Hurricane Deductible, Special Limits, and a Home Business
The Whitakers own an HO-3 with Coverage A of 400,000 on a house worth 420,000, Coverage B of 40,000, Coverage C of 200,000, a 2,000 all-perils deductible, a 5% hurricane deductible, and no endorsements. During a named hurricane, a falling oak opened the roof over the den and rain poured in for two days before tarps arrived.
674 words, about 3 min4Bakery Fire: ACV Settlement, the 72-Hour Wait, and a Supplier Shutdown
Crust & Crumb LLC runs a single bakery in a leased storefront. Its ISO businessowners policy shows a 500,000 limit on building and business personal property, 200,000 business income, a 2,500 deductible, and no optional endorsements; business personal property settles at actual cash value.
759 words, about 4 min5Pizza Delivery in a Newly Acquired Car
Erin, 19, lives with her parents and drives their 2016 sedan, which is listed on the family's personal auto policy (liability 100/300/50, 5,000 medical payments, uninsured motorist, 500 collision). Three weeks ago she bought a 2004 Civic for 4,200 and began delivering pizzas in it two evenings a week.
665 words, about 3 min6Subcontractor Fire, "Your Work," and the Additional Insured Tender
Northgate Builders is general contractor on a 3.2 million custom home and subcontracted all electrical work to Vance Electric. Northgate's CGL is the ISO occurrence form: 1 million each occurrence, 2 million general aggregate, 2 million products-completed operations aggregate, 10,000 per-occurrence deductible.
763 words, about 4 min