New Jersey Property & Casualty Course Notes

High-yield property review: identify the policy/form, the property being insured, the cause of loss, any exclusion or endorsement, and then the valuation/limit/deductible. Master DP and HO form differences, commercial property Causes of Loss, business income, BOP, inland marine, equipment breakdown, flood/earthquake gaps, valuation, coinsurance, and post-loss duties.

• Trap to avoid — DP-1/DP-2 = named-perils approaches; DP-3 = broader open-perils approach for the dwelling/other structures.

• Use the six-step property sequence: property → peril → exclusion → condition/endorsement → valuation/limit → deductible.

High-yield casualty review: determine who was injured or what property was damaged, identify the legal theory and liability coverage, then apply trigger, exclusions, limits and claim duties. Master negligence, CGL A/B/C, occurrence versus claims-made, premises versus products-completed operations, auto, workers compensation/employers liability, excess layers, crime/surety, professional liability, subrogation and cooperation.

• Trap to avoid — Negligence = D-B-C-D; strict liability can impose liability without proving ordinary negligence.

• Classify the claimant and harm first: employee, customer, auto claimant, professional client, or property owner.

New Jersey regulation review: know who needs a producer license, the difference between licensing and appointment, CE rules, fiduciary premium handling, prohibited sales/claims practices, and record/advertising duties. Current NJDOBI rules and official guidance control state-specific numbers and compliance deadlines.

• Trap to avoid — License = state permission to act as producer; appointment = insurer-producer relationship filed with the state.

• Memorize resident CE: 24 credits per two-year renewal period, including 3 ethics; flood sellers also have a one-time 3-credit flood/NFIP requirement within the CE total.

New Jersey-specific P&C review: prioritize the 2026 auto framework, PIP, UM/UIM difference-of-limits, workers compensation, homeowners cancellation/nonrenewal, FAIR Plan, and state claim-handling deadlines. Separate state-law requirements from lender/contract requirements and distinguish working-day from calendar-day deadlines.

• Trap to avoid — Basic = limited and no UM/UIM; Standard = broader liability/UM-UIM choices.

• For 2026 auto questions, use current NJDOBI Basic/Standard limits and choices.