WY Property & Casualty case studies
WY Property & Casualty · Put your knowledge to work in context.
Wyoming requires individuals who sell, solicit, or negotiate property and casualty insurance to hold a state license, and passing a licensing exam is one of the steps toward that license. The Wyoming Property and Casualty exam is aimed at new agents, agency staff, and career-changers who need to demonstrate baseline competence before applying to the Wyoming Insurance Department. The WY Property & Casualty case studies are 5 cases and about 4,182 words.
1The Warehouse Fire: Insurable Interest, Indemnity, and a Waiver of Subrogation
North Platte Transfer & Storage operates a public warehouse in Casper. Its storage contract with Teton Outfitters requires North Platte to carry 500,000 of bailee coverage and contains a mutual waiver of subrogation.
814 words, about 4 min2The Underinsured Machine Shop: A Coinsurance Penalty and a Business Income Claim
Riverton Precision Machine owns a building with a replacement cost of 2,000,000 and contents worth 500,000 at the time of loss. Its commercial property policy has a blanket limit of 1,800,000 covering building and contents, a 90% coinsurance clause, replacement cost settlement on both, and a 10,000 deductible.
785 words, about 4 min3The Washing Machine Loss: What the HO-3 Actually Pays
A Gillette couple owns an HO-3 with Coverage A 420,000, Coverage B 42,000, Coverage C 210,000, Coverage D 126,000, a 2,500 all-perils deductible, and replacement cost settlement on the dwelling and contents. There is no water backup or sump overflow endorsement.
830 words, about 4 min4Sundance Builders: Defense, Completed Operations, and Wyoming Workers' Compensation
Sundance Builders is a general contractor in Cheyenne with a CGL occurrence-form policy: 1,000,000 each occurrence, 2,000,000 general aggregate, 2,000,000 products-completed operations aggregate, and a 1,000,000 employer's liability limit. Three matters arise: (1) A framing subcontractor's employee falls from scaffolding and sues Sundance, alleging negligent site supervision (the suit also includes a count for breach of contract).
863 words, about 4 min5The Producer's Trust Account, a Discount Offer, and a Borrower's Certificate
Dana is a Wyoming-licensed property and casualty producer appointed by three carriers, working for a Casper agency that holds a written premium trust agreement. On January 5 she collects a 14,800 commercial package premium, deposits it in the agency's general operating account, uses part of it for payroll, and remits to the insurer on February 3 - two weeks after the insurer's remittance due date.
890 words, about 4 min