Delaware Examination Content Outlines Insurance Supplement October 15, 2018
LIFE – GENERAL KNOWLEDGE a. Primary and contingent CONTENT OUTLINE b. Revocable and irrevocable c. Common disaster Product Knowledge, Terms, and Concepts d. Minor beneficiaries (50 scoreable questions plus 10 pretest questions) 7. Premium Payment a. Modes I. TYPES OF POLICIES ...... 12 b. Grace period A. Traditional whole life products c. Automatic premium loan 1. Ordinary whole life d. Level or flexible 2. Limited-pay and single-premium life 8. Reinstatement B. Interest/market-sensitive/adjustable life products 9. Policy loans, withdrawals, partial surrenders 1. Universal life 10. Non-forfeiture options 2. Variable whole life 11. Dividends and dividend options (eg. participating, 3. Variable universal life non-participating) 4. Interest-sensitive whole life 12. Incontestability 5. Indexed life 13. Assignments C. Term life 14. Suicide 1. Types 15. Misstatement of age and gender a. Level 16. Settlement options b. Decreasing 17. Accelerated death benefits c. Return of premium C. Policy exclusions d. Annually renewable 2. Special features III. COMPLETING THE APPLICATION, UNDERWRITING, AND DELIVERING THE POLICES…...... 12 a. Renewable A. Completing the application b. Convertible 1. Required signatures D. Annuities 2. Changes in the application 1. Single and flexible premium 3. Consequences of incomplete applications 2. Immediate and deferred 4. Warranties and representations 3. Fixed and variable 5. Collecting the initial premium and issuing the 4. Indexed receipt E. Combination plans and variations 6. Replacement 1. Joint life 7. Disclosures at point of sale (e.g., HIPAA, HIV 2. Survivorship life (second to die) consent) II. POLICY RIDERS, PROVISIONS, OPTIONS, AND 8. USA PATRIOT Act/anti-money laundering EXCLUSIONS B. Underwriting 18 1. Insurable interest A. Policy riders 2. Medical information and consumer reports 1. Waiver of premium and waiver of monthly 3. Fair Credit Reporting Act deduction 4. Risk classification 2. Guaranteed insurability 5. Stranger/Investor-owned life insurance 3. Payor benefit (STOLI/IOLI) 4. Accidental death and/or accidental death and C. Delivering the policy dismemberment 1. When coverage begins 5. Term riders 2. Explaining the policy and its provisions, riders, 6. Other insureds exclusions, and ratings to the client 7. Long term care D. Contract law 8. Return of premium 1. Elements of a contract B. Policy provisions and options 2. Unique aspects of the insurance contract 1. Entire contract a. Conditional 2. Insuring clause b. Unilateral 3. Free look c. Adhesion 4. Consideration d. Aleatory 5. Owner’s rights 6. Beneficiary designations
Delaware Insurance Supplement - Examination Content Outlines October 15, 2018
S1 IV. TAXES, RETIREMENT, AND OTHER INSURANCE B. Marketing Practices ...... 5 CONCEPTS ...... 8 1. Duties of licensed personnel A. Third-party ownership 2. Record keeping B. Viatical Settlements Ref: 1707(m) C. Life Settlements 3. Compensation of licensees D. Group life insurance Ref: 1714 1. Conversion privilege 4. Termination, suspension, fines 2. Contributory vs. noncontributory C. Insurance Commissioner ...... 3 E. Retirement plans 1. Election and term 1. Qualified plans Ref: 301 2. Nonqualified plans 2. General powers and duties F. Life insurance needs analysis/suitability Ref: 309, 310, 311 1. Personal insurance needs 3. Examination of insurers and producers 2. Business insurance needs Ref: 318, 319, 322, 2306 a. Key person 4. Hearings b. Buy sell Ref: 323, 327, 328, 2307 G. Social Security benefits 5. Cease and desist orders and penalties H. Tax treatment of insurance premiums, proceeds, Ref: 2308, 2311 and dividends 6. General penalties 1. Individual life Ref: 106, 1712 2. Group life 3. Modified Endowment Contracts (MECs) II. DELAWARE STATUTES, RULES, REGULATIONS, AND BULLETINS COMMON TO BOTH LIFE AND HEALTH INSURANCE ...... 5 LIFE–STATE SPECIFIC A. Credit Life and Health CONTENT OUTLINE Ref: 3702-3706, 3713, Regulation 1901 State Statutes, Rules, and Regulations B. Life and Health Guaranty Association Act (40 scoreable questions plus 6 pretest questions) Ref: 4401, 18 Del. C. Chapter 44 Ref: All references are to sections in Title 18, Chapter 17 unless III. DELAWARE STATUTES, RULES, REGULATIONS, otherwise noted. AND BULLETINS PERTINENT TO LIFE INSURANCE ONLY ...... 10 I. DELAWARE STATUTES, REGULATIONS, AND BULLETINS PERTINENT TO LIFE, ACCIDENT AND A. Life insurance standard provisions HEALTH, PROPERTY AND CASUALTY Ref: 2901-2915 INSURANCE ...... 13 B. Annuity and endowment contracts standard A. License Regulations ...... 5 provisions 1. Persons required to be licensed and Ref: 2918-2924 responsibilities C. Standard Nonforfeiture Law a. Producer/Agent Ref: 2929 b. Producer/Consultant D. Prohibited policies Ref: 1702 (i) Ref: 2933 2. License requirements E. Policy replacement a. Fees and application Ref: Regulation 1204 b. Prerequisites F. Life insurance solicitation c. Written examinations and exemptions Ref: Regulation 1203 d. Exemptions from licensing G. Group life insurance e. Insurer’s appointment 1. Types of groups 3. Authority Ref: 3101, 3106, 3107, 3109, 3110 a. Definitions 2. Dependent coverage Ref: 902–908 Ref: 3111 b. License requirements 3. Required provisions Ref: Title 18 Chapter 17 Ref: 3111 through 3125 c. Lines of authority 4. Employee life insurance d. Termination of appointment Ref: 3102 4. Notice of address change IV. INSURANCE ETHICS ...... 12 5. Continuing education Ref: Regulation 504
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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Ref: In addition to specific cites listed from Title 18, it is 3. Business disability buyout policy recommended that the candidate review the following study 4. Group disability income policy materials: Title 18 – Chapters 17, 23 & 24, Regulation 904, 5. Key employee policy Ethics (Kaplan), Ethical Practices (Kaplan), Ethics for the B. Accidental death and dismemberment Insurance Professional (Kaplan), Ethics For the Field of C. Medical expense insurance Insurance (Cape Education, Inc.). 1. Basic hospital, medical, and surgical policies A. Definitions 2. Major medical policies 1. Market Conduct 3. Health Maintenance Organizations (HMOs) 2. Authority 4. Preferred Provider Organizations (PPOs) a. Express 5. Point of Service (POS) plans b. Implied 6. Flexible Spending Accounts (FSAs) c. Apparent 7. High Deductible Health Plans (HDHPs) and related 3. Agency versus individual licensee Health Savings Accounts (HSAs) Ref: Title 18 Chapter 17, 1714 D. Medicare supplement policies 4. Suitability E. Group insurance 5. Ethical behavior and good moral standards 1. Differences between individual and group contracts B. Market Conduct examination 2. General characteristics C. Binding coverage 3. COBRA D. Disclosure letters and forms F. Individual/Group Long Term Care (LTC) E. Errors and Omissions insurance G. Other policies F. Unfair practices 1. Dental Ref: 2303, 2304, 2305, 2315, 2316, Regulation 902 2. Vision 1. Twisting 3. Cancer 2. Churning 4. Critical illness or specified disease 3. Commingling 5. Worksite (employer-sponsored) 4. Misrepresentation 6. Hospital indemnity 5. Defamation 7. Short-term medical 6. Coercion and intimidation 8. Accident Ref: 2304(4) II. POLICY PROVISIONS, CLAUSES, AND RIDERS ...... 20 7. Unfair discrimination A. Mandatory and optional provisions 8. Rebating 1. Entire contract 9. Unfair claims settlement practices 2. Time limit on certain defenses (incontestable) Ref: Chapter 23 3. Grace period 10. Coercion of debtors 4. Reinstatement Ref: 2305(a) 5. Notice of claim 11. Publicized Founded Complaints 6. Claim forms Ref: 907 7. Proof of loss G. Insurance fraud and Fraud Prevention Bureau 8. Time of payment of claims Ref: Chapter 24 9. Payment of claims H. Advertisement procedures 10. Physical examination and autopsy I. Privacy 11. Legal actions J. Conflict of issues and producer’s 12. Change of beneficiary responsibilities 13. Misstatement of age or sex 14. Change of occupation ACCIDENT & HEALTH – GENERAL 15. Illegal occupation KNOWLEDGE 16. Relation of earning to insurance CONTENT OUTLINE B. Other provisions and clauses 1. Insuring clause Product Knowledge, Terms, and Concepts 2. Free look (50 scoreable questions plus 10 pretest questions) 3. Consideration clause 4. Probationary period I. TYPES OF POLICIES ...... 14 5. Elimination period A. Disability income 6. Waiver of premium 1. Individual disability income policy 7. Exclusions and limitations 2. Business overhead expense policy 8. Preexisting conditions
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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9. Coinsurance b. Unilateral 10. Deductibles c. Adhesion 11. Eligible expenses d. Aleatory 12. Copayments 13. Pre-authorizations and prior approval requirements ACCIDENT & HEALTH 14. Usual, reasonable, and customary (URC) charges 15. Lifetime, annual, or per cause maximum benefit STATE SPECIFIC limits CONTENT OUTLINE C. Riders State Statutes, Rules, and Regulations 1. Impairment/exclusions (42 scoreable questions plus 13 pretest questions) 2. Guaranteed insurability Ref: All references are to sections in Title 18, Chapter 17 unless D. Rights of renewability otherwise noted. 1. Noncancelable I. DELAWARE STATUTES, REGULATIONS, AND 2. Cancelable BULLETINS PERTINENT TO LIFE, ACCIDENT AND 3. Guaranteed renewable HEALTH, PROPERTY AND CASUALTY III. SOCIAL INSURANCE ...... 3 INSURANCE ...... 13 A. Medicare (Parts A, B, C, D) A. LICENSE REGULATIONS ...... 5 B. Medicaid 1. Persons required to be licensed and C. Social Security benefits responsibilities IV. OTHER INSURANCE CONCEPTS ...... 4 a. Producer/Agent A. Total, partial, recurrent and residual disability b. Producer/Consultant B. Owner’s rights Ref: 1702 (i) C. Dependent children benefits 2. License requirements D. Primary and contingent beneficiaries a. Fees and application E. Modes of premium payments b. Prerequisites F. Nonduplication and coordination of benefits (e.g., c. Written examinations and exemptions primary vs. excess) d. Exemptions from licensing G. Occupational vs. non-occupational e. Insurer’s appointment H. Tax treatment of premiums and proceeds of 3. Authority insurance contracts (e.g., disability income and a. Definitions medical expenses, etc.) Ref: 902–908 I. Managed care b. License requirements J. Workers Compensation Ref: Title 18 Chapter 17 K. Subrogation c. Lines of authority d. Termination of appointment V. FIELD UNDERWRITING PROCEDURES ...... 9 4. Notice of address change A. Completing the application 5. Continuing education B. Explaining sources of insurability and HIPAA Ref: Regulation 504 privacy information (e.g., MIB Report, Fair Credit B. Marketing Practices ...... 5 Reporting Act, etc.) 1. Duties of licensed personnel C. Initial premium payment and receipt and 2. Record keeping consequences of the receipt (e.g., medical Ref: 1707(m) examination, etc.) 3. Compensation of licensees D. Submitting application (and initial premium if Ref: 1714 collected) to company for underwriting 4. Termination, suspension, fines E. Policy delivery C. Insurance Commissioner ...... 3 F. Explaining policy and its provisions, riders, 1. Election and term exclusions, and ratings to clients Ref: 301 G. Replacement 2. General powers and duties H. Contract law Ref: 309, 310, 311 1. Elements of a contract 3. Examination of insurers and producers 2. Insurable interest Ref: 318, 319, 322, 2306 3. Warranties and representations 4. Hearings 4. Unique aspects of the insurance contract Ref: 323, 327, 328, 2307 a. Conditional 5. Cease and desist orders and penalties
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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Ref: 2308, 2311 C. Binding coverage 6. General penalties D. Disclosure letters and forms Ref: 106, 1712 E. Errors and Omissions insurance F. Unfair practices II. DELAWARE STATUTES, RULES, REGULATIONS, Ref: 2303, 2304, 2305, 2315, 2316, Regulation 902 AND BULLETINS COMMON TO BOTH LIFE AND HEALTH INSURANCE ...... 5 1. Twisting 2. Churning A. Credit Life and Health 3. Commingling Ref: 3702-3706, 3713, Regulation 1901 4. Misrepresentation B. Life and Health Guaranty Association Act 5. Defamation Ref: 4401, 18 Del. C. Chapter 44 6. Coercion and intimidation Ref: 2304(4) III. DELAWARE STATUTES, RULES, REGULATIONS, 7. Unfair discrimination AND BULLETINS PERTINENT TO HEALTH 8. Rebating INSURANCE ONLY ...... 12 9. Unfair claims settlement practices A. Individual Health insurance required provisions Ref: Chapter 23 Ref: 3301-3316, 3335, 3336 10. Coercion of debtors B. Individual Health insurance optional provisions Ref: 2305(a) Ref: 3317, 3325 11. Publicized Founded Complaints C. Individual accident and health minimum Ref: 907 standards G. Insurance fraud and Fraud Prevention Bureau Ref: Regulation 1304 Ref: Chapter 24 D. Group and blanket health insurance H. Advertisement procedures 1. Definitions I. Privacy Ref: 3502, 3540 J. Conflict of issues and producer’s 2. Required provisions responsibilities Ref: 3501- 3566 3. Small employer health insurance Ref: Chapter 72, Regulation 1308 PROPERTY – GENERAL KNOWLEDGE 4. Medicare Secondary Payor CONTENT OUTLINE Ref: Chapter 35 Product Knowledge, Terms, and Concepts E. Long Term Care Ref: Chapter 71, Regulation 1404 (50 scoreable questions plus 10 pretest questions) F. Medicare Supplement I. TYPES OF POLICIES ...... 25 Ref: Chapter 34, Regulation 1501 A. Homeowners G. AIDS related testing 1. HO-2 Ref: Chapter 74, Regulation 1209 2. HO-3 IV. INSURANCE ETHICS ...... 12 3. HO-4 Ref: In addition to specific cites listed from Title 18, it is 4. HO-5 recommended that the candidate review the following study 5. HO-6 materials: Title 18 – Chapters 17, 23 & 24, Regulation 904, 6. HO-8 Ethics (Kaplan), Ethical Practices (Kaplan), Ethics for the B. Dwelling policies Insurance Professional(Kaplan), Ethics For the Field of Insurance 1. DP-1 (Cape Education, Inc.). 2. DP-2 A. Definitions 3. DP-3 1. Market Conduct C. Commercial lines 2. Authority 1. Commercial Package Policy (CPP) a. Express 2. Commercial property b. Implied a. Commercial building and business personal c. Apparent property form 3. Agency versus individual licensee b. Causes of loss forms Ref: Title 18 Chapter 17, 1714 c. Business income 4. Suitability d. Extra expense 5. Ethical behavior and good moral standards e. Equipment breakdown B. Market Conduct examination 3. Business Owners Policy (BOP)
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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4. Builders Risk F. Duties of the insured D. Inland marine G. Obligations of the insurance company 1. Personal Articles floaters H. Mortgagee rights 2. Commercial Property floaters I. Proof of loss E. National Flood Insurance Program J. Notice of claim F. Others K. Appraisal 1. Earthquake L. Other Insurance Provision 2. Mobile Homes M. Subrogation 3. Watercraft N. Elements of a contract 4. Farm Owners O. Warranties, representations, and concealment 5. Windstorm P. Sources of underwriting information Q. Fair Credit Reporting Act II. INSURANCE TERMS AND RELATED CONCEPTS ...... 14 R. Privacy Protection (Gramm Leach Bliley) A. Insurance S. Policy Application 1. Law of Large Numbers T. Terrorism Risk Insurance Act (TRIA) B. Insurable interest C. Risk 1. Pure vs. Speculative Risk PROPERTY–STATE SPECIFIC D. Hazard CONTENT OUTLINE 1. Moral State Statutes, Rules, and Regulations 2. Morale (35 questions plus 7 pretest questions) 3. Physical Ref: All references are to sections in Title 18, Chapter 17 unless E. Peril otherwise noted. F. Loss I. DELAWARE STATUTES, REGULATIONS, AND 1. Direct BULLETINS PERTINENT TO LIFE, ACCIDENT AND 2. Indirect HEALTH, PROPERTY AND CASUALTY G. Loss Valuation INSURANCE...... 13 1. Actual cash value A. License Regulations ...... 5 2. Replacement cost 1. Persons required to be licensed and 3. Market value responsibilities 4. Stated/agreed value a. Producer/Agent 5. Salvage value b. Surplus lines broker H. Proximate cause c. Limited Lines producer I. Deductible d. Producer/Consultant J. Indemnity Ref: 1702(i) K. Limits of liability 2. License requirements L. Coinsurance/Insurance to value a. Fees and application M. Occurrence b. Prerequisites N. Cancellation c. Special qualifications O. Nonrenewal d. Written examinations and exemptions P. Vacancy and unoccupancy e. Exemptions from licensing Q. Liability f. Insurer’s appointment 1. Absolute 3. Authority 2. Strict a. Definitions 3. Vicarious Ref: 902–908 R. Negligence b. License requirements S. Binder Ref: Title 18 Chapter 17 T. Endorsements c. Lines of authority U. Blanket vs. Specific d. Termination of appointment III. POLICY PROVISIONS AND CONTRACT LAW ...... 11 4. Notice of address change A. Declarations 5. Continuing education B. Insuring agreement Ref: Regulation 504 C. Conditions B. Marketing Practices ...... 5 D. Exclusions 1. Duties of licensed personnel E. Definition of the insured 2. Record keeping
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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Ref: 1707(m) III. DELAWARE STATUTES, RULES, REGULATIONS, 3. Compensation of licensees AND BULLETINS PERTINENT TO PROPERTY Ref: 1714 INSURANCE ONLY ...... 5 4. Termination, suspension, fines A. Delaware FAIR Plan C. Insurance Commissioner ...... 3 Ref: Chapter 41 1. Election and term 1. Purpose and definitions Ref: 301 Ref: 4103, 4104 2. General powers and duties 2. Eligibility Ref: 309, 310, 311 3. Coverage available 3. Examination of insurers and producers 4. Limits of coverage Ref: 318, 319, 322, 2306 5. Effective date of coverage 4. Hearings 6. Binding authority of producers Ref: 323, 327, 328, 2307 B. Declinations, renewal, and cancellation of 5. Cease and desist orders and penalties Property insurance contracts Ref: 2308, 2311 1. Definitions 6. General penalties Ref: 4121 Ref: 106 2. Notification and reasons for declination, non- renewal, and termination II. DELAWARE STATUTES, RULES, REGULATIONS, Ref: 4122, Regulation 703 AND BULLETINS COMMON TO BOTH PROPERTY 3. Permissible cancellations AND CASUALTY INSURANCE...... 5 Ref: 4123 A. Surplus Lines Broker 4. Prohibited practices 1. Definitions Ref: 4124 Ref: Chapters 17 & 19 5. Enforcement 2. Conditions for procurement Ref: 4125 Ref: Chapter 19 6. Disclosures 3. Endorsement of policy Ref: Regulation 702 Ref: Chapter 19 C. National Flood Insurance Program 4. Liability of insurer Ref: National Flood Insurance Program, Regulation 702 Ref: Chapter 19 1. Definitions 5. License suspension, revocation 2. Policies and Products Available Ref: Chapter 17 & 19 3. Who needs flood insurance 6. Records and annual statement 4. Flood Maps and Zone Determinations Ref: Chapter 19 5. General Rules 7. Broker’s affidavit 6. Claims Handling Process Ref: Chapter 19 7. Write Your Own Company B. Consent of rate filings Ref: Regulation 1901 IV. INSURANCE ETHICS ...... 12 C. Fiduciary accounts Ref: In addition to specific cites listed from Title 18, it is Ref: Reg 505 recommended that the candidate review the following study D. Guaranty Association Act materials: Title 18 – Chapters 17, 23 & 24, Regulation 904, Ref: 4201–4206; 4208 Ethics (Kaplan), Ethical Practices (Kaplan), Ethics for the E. Premium financing Insurance Professional(Kaplan), Ethics For the Field of Insurance 1. Definitions (Cape Education, Inc.). Ref: 4801 A. Definitions 2. Licensing 1. Market Conduct Ref: 4802 2. Authority 3. Form of agreement a. Express Ref: 4806 b. Implied F. Credit Scoring for Underwriting c. Apparent Ref: Title 18, Chapter 83, Reg 906 3. Agency versus individual licensee 1. Purpose Ref: Title 18 Chapter 17, 1714 2. Scope 4. Suitability 3. Applicability 5. Ethical behavior and good moral standards 4. Written notice to consumers B. Market Conduct examination 5. Prohibited practices C. Binding coverage
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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D. Disclosure letters and forms a. Bodily Injury E. Errors and Omissions insurance b. Property Damage F. Unfair practices c. Split Limits Ref: 2303, 2304, 2305, 2315, 2316, Regulation 902 d. Combined Single Limit 1. Twisting 2. Medical Payments 2. Churning 3. Physical Damage (collision; other than collision; 3. Commingling specified perils) 4. Misrepresentation 4. Uninsured motorists 5. Defamation 5. Underinsured motorists 6. Coercion and intimidation 6. Who is an insured Ref: 2304(4) 7. Types of Auto 7. Unfair discrimination a. Owned 8. Rebating b. Non-owned 9. Unfair claims settlement practices c. Hired Ref: Chapter 23 d. Temporary Substitute 10. Coercion of debtors e. Newly Acquired Autos Ref: 2305(a) f. Transportation Expense and Rental 11. Publicized Founded Complaints Reimbursement Expense Ref: 907 8. Garage Coverage Form, including Garagekeepers G. Insurance fraud and Fraud Prevention Bureau Insurance Ref: Chapter 24 9. Exclusions H. Advertisement procedures 10. Individual Insured and Drive Other Car (DOC) I. Privacy C. Workers Compensation Insurance, Employers J. Conflict of issues and producer’s Liability Insurance, and Related Issues responsibilities (This section does not deal with specifics of state law, which are addressed elsewhere in this outline.) 1. Standard policy concepts CASUALTY – GENERAL KNOWLEDGE a. Who is an employee/employer CONTENT OUTLINE b. Compensation 2. Work-related vs. non-work-related Product Knowledge, Terms, and Concepts 3. Other states’ insurance (50 scoreable questions plus 10 pretest questions) 4. Employers Liability 5. Exclusive remedy I. TYPES OF POLICIES, BONDS, AND 6. Premium Determination RELATED TERMS ...... 25 D. Crime A. Commercial general liability 1. Employee Dishonesty 1. Exposures 2. Theft a. Premises and Operations 3. Robbery b. Products and Completed Operations 4. Burglary 2. Coverage 5. Forgery and Alteration a. Coverage A: Bodily Injury and Property Damage 6. Mysterious disappearance Liability E. Bonds (1) Occurrence 1. Surety (2) Claims made 2. Fidelity (a) Retroactive Date F. Professional liability b. Coverage B: Personal Injury and Advertising 1. Errors and Omissions Injury 2. Medical Malpractice c. Coverage C: Medical Payments 3. Directors and Officers (D&O) d. Supplemental Payments 4. Employment Practices Liability (EPLI) e. Who is an insured 5. Cyber liability and data breach f. Limits G. Umbrella/Excess Liability (1) Per occurrence (2) Annual Aggregate II. INSURANCE TERMS AND RELATED CONCEPTS ...... 14 g. Damage to Property of Others A. Risk B. Automobile: personal auto and business auto B. Hazards 1. Liability 1. Moral
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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2. Morale Ref: All references are to sections in Title 18, Chapter 17 unless 3. Physical C. Indemnity otherwise noted. D. Insurable interest I. DELAWARE STATUTES, REGULATIONS, AND E. Loss valuation BULLETINS PERTINENT TO LIFE, ACCIDENT AND 1. Actual cash value HEALTH, PROPERTY AND CASUALTY 2. Replacement cost INSURANCE ...... 13 3. Market value A. License Regulations ...... 5 4. Stated/agreed value 1. Persons required to be licensed and 5. Salvage value responsibilities F. Negligence a. Producer/Agent and Broker G. Liability b. Surplus lines broker H. Occurrence c. Limited Lines producer I. Binders d. Producer/Consultant J. Warranties Ref: 1702 (i) K. Representations 2. License requirements L. Concealment a. Fees and application M. Deposit Premium/Audit b. Prerequisites N. Certificate of Insurance c. Special qualifications O. Law of Large Numbers d. Written examinations and exemptions P. Pure vs. Speculative Risk e. Exemptions from licensing Q. Endorsements f. Insurer’s appointment R. Damages 3. Authority 1. Compensatory a. Definitions a. General Ref: 902–908 b. Special b. License requirements 2. Punitive Ref: Title 18 Chapter 17 S. Compliance with provisions of Fair Credit c. Lines of authority Reporting Act d. Termination of appointment 4. Notice of address change III. POLICY PROVISIONS ...... 11 5. Continuing education A. Declarations Ref: Regulation 504 B. Insuring agreement B. Marketing Practices ...... 5 C. Conditions 1. Duties of licensed personnel D. Exclusions and Limitations 2. Record keeping E. Definition of the insured Ref: 1707(m) F. Duties of the insured after a loss 3. Compensation of licensees G. Cancellation and nonrenewal provisions Ref: 1714 H. Supplementary payments 4. Termination, suspension, fines I. Proof of loss C. Insurance Commissioner ...... 3 J. Notice of claim 1. Election and term K. Arbitration Ref: 301 L. Other insurance 2. General powers and duties M. Subrogation Ref: 309, 310, 311 N. Loss settlement provisions including consent to 3. Examination of insurers and producers settle a loss Ref: 318, 319, 322, 2306 O. Terrorism Risk Insurance Act (TRIA) 4. Hearings
Ref: 323, 327, 328, 2307
5. Cease and desist orders and penalties CASUALTY–STATE SPECIFIC Ref: 2308, 2311 CONTENT OUTLINE 6. General penalties State Statutes, Rules, and Regulations Ref: 106 (45 scoreable questions plus 9 pretest questions) II. DELAWARE STATUTES, RULES, REGULATIONS, AND BULLETINS COMMON TO BOTH PROPERTY AND CASUALTY INSURANCE ...... 5
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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A. Surplus Lines Broker 1. Reasons for 1. Definitions Ref: 3904 Ref: Chapter 17 and Ch. 19 2. Notice 2. Conditions for procurement Ref: 3905 Ref: Chapter 19 3. Hearing 3. Endorsement of policy Ref: 3906 Ref: Chapter 19 4. Exclusion of designated person 4. Liability of insurer Ref: 3909 Ref: Chapter 19 5. Request for driving records 5. License suspension, revocation Ref: 3913 Ref: Chapter 17 &19 D. Delaware Automobile Insurance Plan 6. Records and annual statement Ref: Delaware Automobile Insurance Plan Ref: Chapter 19 1. Producer and insurer responsibilities 7. Broker’s affidavit 2. Eligibility Ref: Chapter 19 3. Coverage and options B. Consent of rate filings Ref: Title 21, 2118 Ref: Regulation 1901 4. Designation of carrier C. Fiduciary accounts 5. Binding authority Ref: Reg 505 6. Collection of placement fee D. Guaranty Association Act E. Defensive driving course credit Ref: 4201–4206; 4208 Ref: Regulation 607 E. Premium financing F. Private passenger automobile insurance rating 1. Definitions information Ref: 4801 Ref: Regulation 1902 2. Licensing G. Workers Compensation Ref: 4802 Ref: Title 19 3. Form of agreement 1. Applicability Ref: 4806 Ref: 2301, 2306, 2321 F. Credit Scoring for Underwriting 2. Excluded employments Ref: Title 18, Chapter 83, Reg 906 Ref: 2307 1. Purpose 3. Executive offices, sole proprietors, partners 2. Scope Ref: 2308 3. Applicability 4. Requirement for insurance policy 4. Written notice to consumers 5. Minimum duration of incapacity 5. Prohibited practices Ref: 2321 6. Medical benefits required III. DELAWARE STATUTES, RULES, REGULATIONS, Ref: 2322 AND BULLETINS PERTINENT TO CASUALTY INSURANCE ONLY ...... 15 7. Compensation for total disability A. Delaware Motorist Protection Act Ref: 2324 Ref: Title 21, 2118, Regulations 603, 901 8. Compensation for partial disability 1. Required coverage and limits Ref: 2325 2. Arbitration 9. Survivorship benefits Ref: Regulation 901 Ref: 2330 3. Insurance ID card 10. Burial expenses Ref: Regulation 606 Ref: 2331 4. Fines 11. Deductible options Form B Ref: Title 21, 2118(s)(1) Ref: Regulation 801 5. Form A 12. Assigned Risk Plan Ref: Regulation 603 Ref: Title 18, 2527; Title 21, 2905 B. Uninsured and Underinsured Motorists 13. Workplace safety Coverage Ref: Regulation 802 Ref: 3902 14. Worker’s Compensation rating/classification 1. Required coverage Ref: Title 18, 2602 2. Option for additional coverage 15. Terrorism Risk Insurance Act C. Cancellation and nonrenewal of auto insurance Ref: Domestic and Foreign Insurance Bulletin
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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16. Permanent Impairment and Disfigurement A. Homeowners Settlements 1. HO-2 Ref: Title 19 2. HO-3 IV. INSURANCE ETHICS ...... 12 3. HO-4 Ref: In addition to specific cites listed from Title 18, it is 4. HO-5 recommended that the candidate review the following study 5. HO-6 materials: Title 18 – Chapters 17, 23 & 24, Regulation 904, 6. HO-8 Ethics (Kaplan), Ethical Practices (Kaplan), Ethics for the B. Dwelling policies Insurance Professional (Kaplan), Ethics For the Field of 1. DP-1 Insurance (Cape Education, Inc.). 2. DP-2 A. Definitions 3. DP-3 1. Market Conduct C. Inland marine 2. Authority 1. Personal Articles floaters a. Express D. National Flood Insurance Program b. Implied E. Others c. Apparent 1. Earthquake 3. Agency versus individual licensee 2. Mobile Homes Ref: Title 18 Chapter 17, 1714 3. Watercraft 4. Suitability 4. Windstorm 5. Ethical behavior and good moral standards II. TYPES OF CASUALTY POLICIES ...... 13 B. Market Conduct examination A. Automobile: personal auto C. Binding coverage 1. Liability D. Disclosure letters and forms a. Bodily Injury E. Errors and Omissions insurance b. Property Damage F. Unfair practices c. Split Limits Ref: 2303, 2304, 2305, 2315, 2316, Regulation 902 d. Combined Single Limit 1. Twisting 2. Medical Payments 2. Churning 3. Physical Damage (collision; other than collision; 3. Commingling specified perils) 4. Misrepresentation 4. Uninsured motorists 5. Defamation 5. Underinsured motorists 6. Coercion and intimidation 6. Who is an insured Ref: 2304(4) 7. Types of Auto 7. Unfair discrimination a. Owned 8. Rebating b. Non-owned 9. Unfair claims settlement practices c. Hired Ref: Chapter 23 d. Temporary Substitute 10. Coercion of debtors e. Newly Acquired Autos Ref: 2305(a) f. Transportation Expense and Rental 11. Publicized Founded Complaints Reimbursement Expense Ref: 907 8. Exclusions G. Insurance fraud and Fraud Prevention Bureau B. Umbrella/Excess liability Ref: Chapter 24 III. PROPERTY AND CASUALTY INSURANCE TERMS H. Advertisement procedures AND RELATED CONCEPTS ...... 28 I. Privacy A. Insurance J. Conflict of issues and producer’s 1. Law of Large Numbers responsibilities B. Insurable interest C. Risk PERSONAL LINES – GENERAL 1. Pure vs. Speculative Risk KNOWLEDGE D. Hazard CONTENT OUTLINE 1. Moral 2. Morale Product Knowledge, Terms, and Concepts 3. Physical (75 scoreable questions plus 11 pretest questions) E. Peril F. Loss I. TYPES OF PROPERTY POLICIES ...... 10
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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1. Direct O. Sources of underwriting information 2. Indirect P. Fair Credit Reporting Act G. Loss Valuation Q. Privacy Protection (Gramm Leach Bliley) 1. Actual cash value R. Policy Application 2. Replacement cost S. Terrorism Risk Insurance Act (TRIA) 3. Market value T. Cancellation and nonrenewal provisions 4. Stated value U. Supplementary payments 5. Salvage value V. Arbitration H. Proximate cause W. Loss settlement provisions including consent to I. Deductible settle a loss J. Indemnity K. Limits of liability L. Coinsurance/Insurance to value PERSONAL LINES–STATE SPECIFIC M. Occurrence CONTENT OUTLINE N. Cancellation State Laws, Rules, and Regulations O. Nonrenewal P. Vacancy and unoccupancy (40 questions plus 8 pretest questions) Q. Liability Ref: All references are to sections in Title 18, Chapter 17 unless 1. Absolute otherwise noted. 2. Strict I. DELAWARE STATUTES, REGULATIONS, AND 3. Vicarious BULLETINS PERTINENT TO LIFE, ACCIDENT AND R. Negligence HEALTH, PROPERTY, CASUALTY AND PERSONAL S. Binder LINES INSURANCE ...... 13 T. Endorsements A. License Regulations ...... 5 U. Blanket vs. Specific 1. Persons required to be licensed and V. Burglary, Robbery, Theft, and Mysterious responsibilities Disappearance a. Producer/Agent W. Warranties b. Limited Lines producer X. Representations c. Producer/Consultant Y. Concealment Ref: 1702 (i) Z. Deposit Premium/Audit 2. License requirements AA. Certificate of Insurance a. Fees and application BB. Damages b. Prerequisites 1. Compensatory c. Special qualifications a. General d. Written examinations and exemptions b. Special e. Exemptions from licensing 2. Punitive f. Insurer’s appointment CC. Compliance with Provisions of Fair Credit 3. Authority Reporting Act a. Definitions Ref: 902–908 IV. PROPERTY AND CASUALTY POLICY PROVISIONS b. License requirements AND CONTRACT LAW ...... 24 Ref: Title 18 Chapter 17 A. Declarations c. Lines of authority B. Insuring agreement d. Termination of appointment C. Conditions 4. Notice of address change D. Exclusions 5. Continuing education E. Definition of the insured Ref: Regulation 504 F. Duties of the insured after a loss B. Marketing Practices ...... 5 G. Obligations of the insurance company 1. Duties of licensed personnel H. Mortgagee rights 2. Record keeping I. Proof of loss Ref: 1707(m) J. Notice of claim 3. Compensation of licensees K. Appraisal Ref: 1714 L. Other Insurance Provision 4. Termination, suspension, fines M. Subrogation C. Insurance Commissioner ...... 3 N. Elements of a contract
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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1. Election and term 2. Arbitration Ref: 301 Ref: Regulation 901 2. General powers and duties 3. Insurance ID card Ref: 309, 310, 311 Ref: Regulation 606 3. Examination of insurers and producers 4. Fines Ref: 318, 319, 322, 2306 Ref: Title 21, 2118(s)(1) 4. Hearings 5. Form A Ref: 323, 327, 328, 2307 Ref: Regulation 603 5. Cease and desist orders and penalties B. Uninsured and Underinsured Motorists Ref: 2308, 2311 Coverage 6. General penalties Ref: 3902 Ref: 106 1. Required coverage 2. Option for additional coverage II. DELAWARE STATUTES, RULES, REGULATIONS, C. Cancellation and nonrenewal of auto insurance AND BULLETINS PERTINENT TO PROPERTY INSURANCE ONLY ...... 5 1. Reasons for A. Delaware FAIR Plan Ref: 3904 Ref: Chapter 41 2. Notice 1. Purpose and definitions Ref: 3905 Ref: 4103, 4104 3. Hearing 2. Eligibility Ref: 3906 3. Coverage available 4. Exclusion of designated person 4. Limits of coverage Ref: 3909 5. Effective date of coverage 5. Request for driving records 6. Binding authority of producers Ref: 3913 B. Declinations, renewal, and cancellation of D. Delaware Automobile Insurance Plan Property insurance contracts Ref: Delaware Automobile Insurance Plan 1. Definitions 1. Producer and insurer responsibilities Ref: 4121 2. Eligibility 2. Notification and reasons for declination, non- 3. Coverage and options renewal, and termination Ref: Title 21, 2118 Ref: 4122, Regulation 703 4. Designation of carrier 3. Permissible cancellations 5. Binding authority Ref: 4123 6. Collection of placement fee E. Defensive driving course credit 4. Prohibited practices Ref: Regulation 607 Ref: 4124 5. Enforcement F. Private passenger automobile insurance rating Ref: 4125 information 6. Disclosures Ref: Regulation 1902 Ref: Regulation 702 IV. INSURANCE ETHICS ...... 12 C. National Flood Insurance Program Ref: In addition to specific cites listed from Title 18, it is Ref: National Flood Insurance Program, Regulation 702 recommended that the candidate review the following study 1. Definitions materials: Title 18 – Chapters 17, 23 & 24, Regulation 904, 2. Policies and Products Available Ethics (Kaplan), Ethical Practices (Kaplan), Ethics for the 3. Who needs flood insurance Insurance Professional (Kaplan), Ethics For the Field of 4. Flood Maps and Zone Determinations Insurance (Cape Education, Inc.). 5. General Rules A. Definitions 6. Claims Handling Process 1. Market Conduct 7. Write Your Own Company 2. Authority III. DELAWARE STATUTES, RULES, REGULATIONS, a. Express AND BULLETINS PERTINENT TO CASUALTY b. Implied INSURANCE ONLY ...... 10 c. Apparent A. Delaware Motorist Protection Act 3. Agency versus individual licensee Ref: Title 21, 2118, Regulations 603, 901 Ref: Title 18 Chapter 17, 1714 1. Required coverage and limits 4. Suitability
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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5. Ethical behavior and good moral standards 1. Dwelling and contents (DP forms) B. Market Conduct examination 2. Homeowners (HO forms) C. Binding coverage 3. Mobile Homes D. Disclosure letters and forms 4. Condominium policies E. Errors and Omissions insurance C. Commercial lines F. Unfair practices 1. Commercial property Ref: 2303, 2304, 2305, 2315, 2316, Regulation 902 a. Commercial building and personal property 1. Twisting form 2. Churning b. Causes of loss forms 3. Commingling c. Business income 4. Misrepresentation d. Extra expense 5. Defamation 2. Commercial Package Policy (CPP) 6. Coercion and intimidation 3. Equipment Breakdown Coverage Ref: 2304(4) 4. Businessowners Policy (BOP) 7. Unfair discrimination 5. Law and Ordinance Coverage 8. Rebating 6. Condominium Association Coverage Form 9. Unfair claims settlement practices D. Inland marine Ref: Chapter 23 1. Personal floaters 10. Coercion of debtors 2. Commercial floaters Ref: 2305(a) 3. Nationwide Definition 11. Publicized Founded Complaints 4. Builders’ Risk coverage Ref: 907 5. Transportation coverage G. Insurance fraud and Fraud Prevention Bureau 6. Electronic Data Processing (EDP) coverage Ref: Chapter 24 E. Others H. Advertisement procedures 1. Aviation I. Privacy 2. National Flood Insurance Program J. Conflict of issues and producer’s 3. Personal Watercraft responsibilities 4. Commercial Ocean Marine 5. Earthquake 6. Terrorism F. Additional Coverages and Exclusions DELAWARE–PUBLIC ADJUSTER 1. Business Interruption 2. Time Element CONTENT OUTLINE 3. Valuable Papers and Records PRODUCT KNOWLEDGE, LAWS, AND G. Crime REGULATIONS 1. Employee Theft (50 scoreable questions) 2. Inside the Premises-Theft of Money and Securities I. GENERAL PROPERTY INSURANCE PRODUCT 3. Inside the Premises-Robbery or Safe Burglary KNOWLEDGE PERTINENT TO PUBLIC ADJUSTERS of Other Property Ref: All references are to Title 18, Chapter 17A of the 4. Inside the Premises - Robbery or Burglary of Delaware Insurance Code and to general product Other Property knowledge, unless otherwise noted. 5. Definitions A. Standard Fire Policy a. Custodian Ref: New York Standard Fire Policy b. Messenger 1. Basic coverages, provisions, and clauses c. Guard or watchperson 2. Limitations and restrictions H. Surety Bonding 3. Proof of Loss 1. Definitions 4. Loss requirements and inventories a. Obligee 5. Appraisal b. Principal 6. Company options c. Surety 7. Cancellation 8. Additional coverages II. PROPERTY POLICY PROVISIONS AND CONTRACT 9. Replacement costs LAW 10. Increase in hazard A. Declarations B. Personal lines B. Insuring agreement
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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C. Conditions M. Extensions of coverage D. Exclusions N. Additional coverages E. Definition of the insured O. Accident F. Duties of the insured after a loss P. Occurrence G. Obligations of the insurance company Q. Vacancy and unoccupancy H. Mortgagee rights R. Right of salvage I. Proof of loss S. Abandonment J. Notice of claim T. Liability K. Appraisal U. Negligence L. Other Insurance V. Theft M. Assignment W. Burglary N. Subrogation X. Robbery O. Elements of a contract Y. Mysterious disappearance P. Sources of underwriting information Z. Binders Q. Compliance with provisions of AA. Apportionment clause Fair Credit Reporting Act BB. Tariff Liability R. Cancellation and Nonrenewal provisions CC. Waiver/Non-Waiver Agreement S. Additional (supplementary) payments DD. Value Policy T. Loss settlement provisions including consent EE. Estoppel to settle a loss FF. Reservation of Rights U. Limitations IV. PUBLIC ADJUSTER V. Representations and misrepresentations A. Loss Report W. Concealment 1. Essential Elements X. Arbitration a. Inception/Expiration Date Y. Coinsurance b. Occurrence Date Z. Endorsements c. Identification of Parties Involved AA. Warranties d. Policy Form/Number BB. Replacement Cost e. Description of Loss CC. Fraud f. Coverages III. PROPERTY INSURANCE TERMS AND RELATED g. Deductible CONCEPTS h. Date of loss Ref: Fundamentals of Risk and Insurance by Emmett and B. Loss/Damage Valuation Therese Vaughn (Wiley), Businessowners Policy Coverage by 1. Direct Loss vs. Indirect Loss (Loss of Use) George Krauss and Commercial Property Coverage Guide 2. Damages by Hillman & McCracken (National Underwriter), Property 3. Scope of Loss or Damages Loss Adjusting (James Markham (IIA), BHM Insurance V. DELAWARE STATUTES, REGULATIONS, AND Services. BULLETINS PERTINENT TO PROPERTY A. Insurable interest INSURANCE AND THE LICENSING OF PUBLIC B. Risk ADJUSTERS C. Hazard All references are to Title 18 Chapter 17 and 17A of the 1. Physical Delaware Insurance Code except where otherwise specified 2. Moral below. 3. Morale A. Definitions 4. Legal 1. Persons required to be licensed and their D. Peril responsibilities E. Loss a. Adjuster 1. Direct b. License 2. Indirect c. Licensee F. Proximate cause d. Public Adjuster G. Deductible 2. License requirements H. Indemnity a. Fees and application I. Actual cash value b. Prerequisites J. Replacement cost c. Special qualifications K. Limits of liability d. Written examinations and exemptions L. Pair and set clause e. Exceptions to licensing
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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f. Surety bonds 6. Unfair claims settlement practices 3. Authority 7. Publicized Founded Complaints a. Definitions Ref: 907 b. License requirements F. Insurance fraud and Fraud Prevention Bureau 4. Notice of address change G. Privacy 5. Continuing education H. Conflict of issues Ref: Regulation 504 VII. DELAWARE STATUTES, RULES, REGULATIONS, 6. Ownership of other entities AND BULLETINS PERTINENT TO PROPERTY 7. Contracts and Solicitation of Contracts INSURANCE ONLY 8. Regulation and Scope B. Marketing Practices 1. Duties of licensed personnel 2. Record keeping DELAWARE–CASUALTY ADJUSTER 3. Compensation of licensees CONTENT OUTLINE 4. License denial, suspension, revocation, and (50 scoreable questions) penalties 5. Prohibited Acts I. TYPES OF POLICIES, BONDS, AND RELATED C. Insurance Commissioner TERMS Ref: Chapter 3 unless otherwise specified A. Commercial general liability 1. Election and term 1. Basic Hazards 2. General powers and duties a. Premises and Operations 3. Maintenance of Records b. Products and Completed Operations Ref: Chapter 17, Section 1707 c. Independent Contractors 4. Hearings d. Contractual 5. Cease and desist orders and penalties 2. Commercial General Liability Coverage Forms Ref: Chapters 17 and 23 a. Coverage A: Bodily Injury and Property 6. General penalties Damage Liability Ref: Chapters 1,3, and 17 (1) Occurrence (2) Claims Made VI. INSURANCE ETHICS (a) Extended Reporting Periods: Basic Ref: In addition to specific cites listed from Title 18, it is and Supplemental recommended that the candidate review the following study (b) Retroactive Date materials: Title 18 – Chapters 17, 23 & 24, Regulations 902 and b. Coverage B: Personal Injury and Advertising 904, Ethics (Bisys), Ethical Practices (Bisys), Ethics for the Injury Insurance Professional (Kaplan), Ethics For the Field of c. Coverage C: Medical Payments Insurance (Cape Education, Inc.), The Claims Environment d. Supplemental Payments (Edited by James Markham IIA) and BHM Insurance Services. e. Who is an insured A. Definitions f. Limits 1. Business Practices g. Conditions (The candidate also should be 2. Authority familiar with ISO’s Common Policy a. Express Conditions) b. Implied h. Definitions c. Apparent i. Extracontractual 3. Agency versus individual licensee B. Automotive: personal auto and business Ref: Title 18 Chapter 17 (commercial) auto 4. Suitability 1. Liability 5. Ethical behavior and good moral standards 2. Medical Payments B. Market Conduct examination 3. Physical damage (collision and other than C. Disclosure letters and forms collision/comprehensive) D. Errors and Omissions insurance 4. Uninsured motorists E. Unfair practices 5. Underinsured motorists 1. Commingling 6. Who is an insured 2. Misrepresentation 7. Types of Auto 3. Defamation a. Owned 4. Coercion and intimidation b. Non-owned 5. Rebating c. Hired
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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d. Temporary Substitute B. Insuring agreement 8. Garage Coverage Form, including C. Conditions Garagekeepers insurance D. Exclusions C. Workers Compensation insurance, Employers E. Definition of the insured Liability insurance, and Related Issues F. Duties of the insured after a loss (This section does not deal with specifics of state G. Cancellation and nonrenewal provisions law, which are addressed elsewhere in this outline.) H. Additional (supplementary) payments 1. Standard policy concepts I. Proof of loss 2. Work-related vs. non-work-related J. Notice of claim 3. Other states’ insurance K. Arbitration D. Crime L. Other insurance 1. Employee theft M. Subrogation 2. Inside the premises-Theft of Money and N. Compliance with provisions of Fair Credit securities Reporting Act 3. Inside the premises-Robbery or Safe Burglary of O. Claims made policy form Other Property P. Salvage 4. Inside the premises-Robbery or Burglary of Q. Loss settlement provisions including consent Other Property to settle a loss E. Surety Bonding IV. DUTIES OF THE CASUALTY ADJUSTER 1. Definitions A. Loss Report a. Obligee 1. Essential Elements b. Principal a. Inception/Expiration Date c. Surety b. Occurrence Date F. Professional liability d. Identification of Parties Involved 1. Errors and Omissions d. Policy Form/Number G. Umbrella/Excess liability e. Description of Loss II. INSURANCE TERMS AND RELATED CONCEPTS f. Coverages A. Risk g. Deductible B. Hazard h. Date of loss C. Indemnity B. Loss/Damage Valuation D. Insurable interest 1. Direct Loss vs. Indirect Loss (Loss of Use) E. Actual cash value 2. Damages F. Negligence 3. Scope of Loss or Damages G. Liability V. DELAWARE STATUTES, REGULATIONS, AND H. Accident BULLETINS PERTINENT TO CASUALTY I. Occurrence INSURANCE AND THE LICENSING OF ADJUSTERS J. Burglary All references are to Title 18 Chapter 17 of the Delaware K. Robbery Insurance Code except where otherwise specified below. L. Theft A. Definitions M. Mysterious disappearance 1. Persons required to be licensed and their N. Binders responsibilities O. Warranties a. Adjuster P. Representations b. License Q. Concealment c. Licensee R. Bodily injury liability d. Public Adjuster S. Property damage liability 2. License requirements T. Personal injury liability a. Fees and application U. Limits of liability b. Prerequisites V. Deductibles c. Special qualifications W. Insured contract d. Written examinations and exemptions X. Deposit Premium/Audit e. Exceptions to licensing Y. Certificate of Insurance f. Surety bonds 3. Authority III. POLICY PROVISIONS a. Definitions A. Declarations b. License requirements
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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4. Notice of address change F. Insurance fraud and Fraud Prevention Bureau 5. Continuing education G. Privacy Ref: Regulation 504 H. Conflict of issues 6. Ownership of other entities VII. DELAWARE STATUTES, RULES, REGULATIONS, 7. Contracts and Solicitation of Contracts AND BULLETINS PERTINENT TO CASUALTY 8. Regulation and Scope INSURANCE ONLY B. Marketing Practices A. Delaware Motorist Protection Act 1. Duties of licensed personnel Ref: Title 21, 2118, Regulations 603, 901 2. Record keeping 1. Required coverage and limits 3. Compensation of licensees 2. Arbitration 4. License denial, suspension, revocation, and Ref: Regulation 901 penalties 3. Insurance ID card 5. Prohibited Acts Ref: Regulation 606 C. Insurance Commissioner 4. Fines Ref: Chapter 3 unless otherwise specified Ref: Title 21, 2118(s)(1) 1. Election and term 5. Form A 2. General powers and duties Ref: Regulation 603 3. Maintenance of Records 6. Learner’s Permit Prohibitions Ref: Chapter 17, Section 1707 Ref: Title 21 Motor Vehicles 4. Hearings B. Uninsured and Underinsured Motorists 5. Cease and desist orders and penalties Coverage Ref: Chapters 17 and 23 Ref: 3902 6. General penalties 1. Required coverage Ref: Chapters 1, 3, and 17 2. Option for additional coverage VI. INSURANCE ETHICS C. Cancellation and nonrenewal of auto insurance Ref: In addition to specific cites listed from Title 18, it is 1. Reasons for recommended that the candidate review the following study Ref: 3904 materials: Title 18 – Chapters 17, 23 & 24, Regulations 902 and 2. Notice 904, Ethics (Bisys), Ethical Practices (Bisys), Ethics for the Ref: 3905 Insurance Professional (Kaplan), Ethics For the Field of 3. Hearing Insurance (Cape Education, Inc.), Target Ethics (Pentera), The Ref: 3906 Claims Environment (Edited by James Markham IIA) and BHM 4. Exclusion of designated person Insurance Services. Ref: 3909 A. Definitions 5. Request for driving records 1. Business Practices Ref: 3913 2. Authority D. Delaware Automobile Insurance Plan a. Express Ref: Delaware Automobile Insurance Plan b. Implied 1. Producer and insurer responsibilities c. Apparent 2. Eligibility 3. Agency versus individual licensee 3. Coverage and options Ref: Title 18 Chapter 17 4. Designation of carrier 4. Suitability 5. Binding authority 5. Ethical behavior and good moral standards 6. Collection of placement fee B. Market Conduct examination E. Defensive driving course credit C. Disclosure letters and forms Ref: Regulation 607 D. Errors and Omissions insurance F. Private passenger automobile insurance rating E. Unfair practices information 1. Commingling Ref: Regulation 1902 2. Misrepresentation G. Workers Compensation 3. Defamation Ref: Title 19 4. Coercion and intimidation 1. Applicability 5. Rebating Ref: 2301, 2306 6. Unfair claims settlement practices 2. Excluded employments 7. Publicized Founded Complaints Ref: 2307 Ref: 907 3. Executive offices, sole proprietors, partners
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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Ref: 2308 C. Commercial lines 4. Requirement for insurance policy 1. Commercial property 5. Minimum duration of incapacity a. Commercial building and personal property Ref: 2321 form 6. Medical benefits required b. Causes of loss forms Ref: 2322 c. Business income 7. Compensation for total disability d. Extra expense Ref: 2324 2. Commercial Package Policy (CPP) 8. Compensation for partial disability 3. Equipment Breakdown Coverage Ref: 2325 4. Businessowners Policy (BOP) 9. Survivorship benefits 5. Law and Ordinance Coverage Ref: 2330 6. Condominium Association Coverage Form 10. Burial expenses D. Inland marine Ref: 2331 1. Personal floaters 11. Deductible options Form B 2. Commercial floaters Ref: Regulation 801 3. Nationwide Definition 12. Assigned Risk Plan 4. Builders’ Risk coverage Ref: Title 18, 2527; Title 21, 2905 5. Transportation coverage 13. Workplace safety 6. Electronic Data Processing (EDP) Ref: Regulation 802 coverage 14. Worker’s Compensation rating/classification E. Others Ref: Title 18, 2602 1. Aviation 15. Terrorism Risk Insurance Act 2. National Flood Insurance Program Ref: Domestic and Foreign Insurance Bulletin 3. Personal Watercraft 16. Permanent Impairment and Disfigurement 4. Commercial Ocean Marine Settlements 5. Earthquake Ref: Title 19 6. Terrorism F. Additional Coverages and Exclusions 1. Business Interruption DELAWARE–PROPERTY ADJUSTER 2. Time Element CONTENT OUTLINE 3. Valuable Papers and Records G. Crime (50 scoreable questions) 1. Employee Theft I. GENERAL PROPERTY INSURANCE PRODUCT 2. Inside the Premises-Theft of Money and KNOWLEDGE PERTINENT TO PROPERTY Securities ADJUSTERS 3. Inside the Premises-Robbery or Safe Burglary Ref: All topics make reference to general product of Other Property knowledge, unless otherwise noted. 4. Inside the Premises - Robbery or Burglary of A. Standard Fire Policy Other Property Ref: New York Standard Fire Policy 5. Definitions 1. Basic coverages, provisions, and clauses a. Custodian 2. Limitations and restrictions b. Messenger 3. Proof of Loss c. Guard or watchperson 4. Loss requirements and inventories II. PROPERTY POLICY PROVISIONS AND CONTRACT 5. Appraisal LAW 6. Company options A. Declarations 7. Cancellation B. Insuring agreement 8. Additional coverages C. Conditions 9. Replacement costs D. Exclusions 10. Increase in hazard E. Definition of the insured B. Personal lines F. Duties of the insured after a loss 1. Dwelling and contents (DP forms) G. Obligations of the insurance company 2. Homeowners (HO forms) H. Mortgagee rights 3. Mobile Homes I. Proof of loss 4. Condominium policies J. Notice of claim
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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K. Appraisal U. Negligence L. Other Insurance V. Theft M. Assignment W. Burglary N. Subrogation X. Robbery O. Elements of a contract Y. Mysterious disappearance P. Sources of underwriting information Z. Binders Q. Compliance with provisions of AA. Apportionment clause Fair Credit Reporting Act BB. Tariff Liability R. Cancellation and Nonrenewal provisions CC. Waiver/Non-Waiver Agreement S. Additional (supplementary) payments DD. Value Policy T. Loss settlement provisions including consent EE. Estoppel to settle a loss FF. Reservation of Rights U. Limitations IV. DUTIES OF THE PROPERTY ADJUSTER V. Representations and misrepresentations A. Loss Report W. Concealment 1. Essential Elements X. Arbitration a. Inception/Expiration Date Y. Coinsurance b. Occurrence Date Z. Endorsements c. Identification of Parties Involved AA. Warranties d. Policy Form/Number BB. Replacement Cost e. Description of Loss CC. Fraud f. Coverages III. PROPERTY INSURANCE TERMS AND RELATED g. Deductible CONCEPTS h. Date of loss Ref: Fundamentals of Risk and Insurance by Emmett and B. Loss/Damage Valuation Therese Vaughn (Wiley), Businessowners Policy Coverage by 1. Direct Loss vs. Indirect Loss (Loss of Use) George Krauss and Commercial Property Coverage Guide 2. Damages by Hillman & McCracken (National Underwriter), Property 3. Scope of Loss or Damages Loss Adjusting (James Markham (IIA), BHM Insurance V. DELAWARE STATUTES, REGULATIONS, AND Services. BULLETINS PERTINENT TO PROPERTY A. Insurable interest INSURANCE AND THE LICENSING OF PROPERTY B. Risk ADJUSTERS C. Hazard All references are to Title 18 Chapter 17 of the Delaware 1. Physical Insurance Code except where otherwise specified below. 2. Moral A. Definitions 3. Morale 1. Persons required to be licensed and their 4. Legal responsibilities D. Peril a. Adjuster E. Loss b. License 1. Direct c. Licensee 2. Indirect d. Public Adjuster F. Proximate cause 2. License requirements G. Deductible a. Fees and application H. Indemnity b. Prerequisites I. Actual cash value c. Special qualifications J. Replacement cost d. Written examinations and exemptions K. Limits of liability e. Exceptions to licensing L. Pair and set clause f. Surety bonds M. Extensions of coverage 3. Authority N. Additional coverages a. Definitions O. Accident b. License requirements P. Occurrence 4. Notice of address change Q. Vacancy and unoccupancy 5. Continuing education R. Right of salvage Ref: Regulation 504 S. Abandonment 6. Ownership of other entities T. Liability 7. Contracts and Solicitation of Contracts
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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8. Regulation and Scope I. BASIC CONCEPTS OF AUTOMOBILE B. Marketing Practices INSURANCE 1. Duties of licensed personnel Ref: Policy 2. Record keeping A. Coverages 3. License denial, suspension, revocation, 1. Bodily injury and property damage and penalties 2. Medical payments 4. Prohibited Acts 3. Physical damage C. Insurance Commissioner 4. Extracontractual Ref: Chapter 3 unless otherwise specified a. Punitive damages 1. Election and term 5. Personal Injury Protection 2. General powers and duties B. Definitions 3. Maintenance of Records 1. Insured/covered person Ref: Chapter 17, Section 1707 2. Owned automobiles/covered automobiles 4. Hearings 3. Non-owned automobiles 5. Cease and desist orders and penalties 4. Temporary substitute automobiles Ref: Chapters 17 and 23 5. Actual Cash Value 6. General penalties 6. Tort Ref: Chapters 1, 3, and 17 7. Salvage C. Policy Components VI. INSURANCE ETHICS Ref: In addition to specific cites listed from Title 18, it is II. DELAWARE STATUTES, REGULATIONS, AND recommended that the candidate review the following study BULLETINS PERTINENT TO PROPERTY materials: Title 18 – Chapters 17, 23 & 24, Regulations 902 and INSURANCE AND THE LICENSING OF ADJUSTERS 904, Ethics (Bisys), Ethical Practices (Bisys), Ethics for the All references are to Title 18 Chapter 17 of the Delaware Insurance Professional (Kaplan), Ethics For the Field of Insurance Code except where otherwise specified below. Insurance (Cape Education, Inc.), The Claims Environment A. Definitions (Edited by James Markham IIA) and BHM Insurance Services. 1. Persons required to be licensed and their A. Definitions responsibilities 1. Business Practices a. Adjuster 2. Authority b. License a. Express c. Licensee b. Implied d. Public Adjuster c. Apparent 2. License requirements 3. Suitability a. Fees and application 4. Ethical behavior and good moral standards b. Prerequisites B. Market Conduct examination c. Special qualifications C. Disclosure letters and forms d. Written examinations and exemptions D. Errors and Omissions insurance e. Exceptions to licensing E. Unfair practices f. Surety bonds 1. Misrepresentation 3. Authority 2. Defamation a. Definitions 3. Coercion and intimidation b. License requirements 4. Rebating 4. Notice of address change 5. Unfair claims settlement practices 5. Continuing education 6. Publicized Founded Complaints Ref: Regulation 504 Ref: 907 6. Ownership of other entities F. Insurance fraud and Fraud Prevention Bureau 7. Contracts and Solicitation of Contracts G. Privacy 8. Regulation and Scope H. Conflict of issues B. Marketing Practices 1. Duties of licensed personnel DELAWARE–MOTOR VEHICLE 2. Record keeping 3. Compensation of licensees ADJUSTER 4. License denial, suspension, revocation, and CONTENT OUTLINE penalties (50 scoreable questions) 5. Prohibited Acts C. Insurance Commissioner
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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Ref: Chapter 3 unless otherwise specified Ref: Regulation 1902 1. Election and term V. INSURANCE ETHICS 2. General powers and duties Ref: In addition to specific cites listed from Title 18, it is 3. Maintenance of Records recommended that the candidate review the following study Ref: Chapter 17, Section 1707 materials: Title 18 – Chapters 17, 23 & 24, Regulations 902 4. Hearings and 904, Ethics (Bisys), Ethical Practices (Bisys), Ethics for 5. Cease and desist orders and penalties the Insurance Professional (Kaplan), Ethics For the Field of Ref: Chapters 17 and 23 Insurance (Cape Education, Inc.), The Claims Environment 6. General penalties (Edited by James Markham IIA) and BHM Insurance Ref: Chapters 1,3, and 17 Services. III. DELAWARE STATUTES, RULES, REGULATIONS, A. Definitions AND BULLETINS PERTINENT TO CASUALTY 1. Business Practices INSURANCE ONLY 2. Authority A. Delaware Motorist Protection Act a. Express Ref: Title 21, 2118, Regulations 603, 901 b. Implied 1. Required coverage and limits c. Apparent 2. Arbitration 3. Agency versus individual licensee Ref: Regulation 901 Ref: Title 18 Chapter 17 3. Insurance ID card 4. Suitability Ref: Regulation 606 5. Ethical behavior and good moral standards 4. Fines B. Market Conduct examination Ref: Title 21, 2118(s)(1) C. Disclosure letters and forms 5. Form A D. Errors and Omissions insurance Ref: Regulation 603 E. Unfair practices 6. Learner’s Permit Prohibitions 1. Commingling Ref: Title 21 Motor Vehicles 2. Misrepresentation B. Uninsured and Underinsured Motorists 3. Defamation Coverage 4. Coercion and intimidation Ref: 3902 5. Rebating 1. Required coverage 6. Unfair claims settlement practices 2. Option for additional coverage 7. Publicized Founded Complaints C. Cancellation and nonrenewal of auto Ref: 907 insurance F. Insurance fraud and Fraud Prevention 1. Reasons for Bureau Ref: 3904 G. Privacy 2. Notice H. Conflict of issues Ref: 3905 3. Hearing VI. DUTIES OF THE MOTOR VEHICLE ADJUSTER Ref: 3906 A. Loss Report 4. Exclusion of designated person 1. Essential Elements a. Inception/Expiration Date Ref: 3909 5. Request for driving records b. Occurrence Date Ref: 3913 c. Identification of Parties Involved d. Policy Form/Number D. Delaware Automobile Insurance Plan Ref: Delaware Automobile Insurance Plan e. Description of Loss 1. Producer and insurer responsibilities f. Coverages g. Deductible 2. Eligibility 3. Coverage and options h. Date of loss 4. Designation of carrier B. Loss/Damage Valuation 1. Direct Loss vs. Indirect Loss (Loss of Use) 5. Binding authority 6. Collection of placement fee 2. Damages E. Defensive driving course credit 3. Scope of Loss or Damages
Ref: Regulation 607 F. Private passenger automobile insurance rating information
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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DELAWARE–MARINE AND George Krauss and Commercial Property Coverage Guide TRANSPORTATION ADJUSTER by Hillman & McCracken (National Underwriter), Property CONTENT OUTLINE Loss Adjusting (James Markham (IIA), BHM Insurance Services. (50 scoreable questions) A. Insurable interest I. GENERAL PROPERTY INSURANCE PRODUCT B. Risk KNOWLEDGE PERTINENT TO MARINE AND C. Hazard TRANSPORTATION ADJUSTERS 1. Physical Ref: All topics make reference to general product 2. Moral knowledge, unless otherwise noted. 3. Morale A. Inland marine 4. Legal 1. Personal floaters D. Peril 2. Commercial floaters E. Loss 3. Nationwide Definition 1. Direct 4. Builders’ Risk coverage 2. Indirect 5. Transportation coverage F. Proximate cause 6. Electronic Data Processing (EDP) G. Deductible coverage H. Indemnity B. Other terms and related concepts I. Actual cash value 1. Commercial Ocean Marine J. Replacement cost 2. Terrorism K. Limits of liability L. Pair and set clause II. PROPERTY POLICY PROVISIONS AND CONTRACT LAW M. Extensions of coverage A. Declarations N. Additional coverages B. Insuring agreement O. Accident C. Conditions P. Occurrence D. Exclusions Q. Right of salvage E. Definition of the insured R. Abandonment F. Duties of the insured after a loss S. Liability G. Obligations of the insurance company T. Negligence H. Proof of loss U. Theft I. Notice of claim V. Burglary J. Appraisal W. Robbery K. Other Insurance X. Mysterious disappearance L. Assignment Y. Binders M. Subrogation Z. Apportionment clause N. Elements of a contract AA. Tariff Liability O. Sources of underwriting information BB. Waiver/Non-Waiver Agreement P. Cancellation and Nonrenewal provisions CC. Estoppel Q. Additional (supplementary) payments DD. Reservation of Rights R. Loss settlement provisions including consent IV. DUTIES OF THE MARINE AND TRANSPORTATION to settle a loss ADJUSTER S. Limitations A. Loss Report T. Representations and misrepresentations 1. Essential Elements U. Concealment a. Inception/Expiration Date V. Arbitration b. Occurrence Date W. Coinsurance c. Identification of Parties Involved X. Endorsements d. Policy Form/Number Y. Warranties e. Description of Loss Z. Replacement Cost f. Coverages AA. Fraud g. Deductible h. Date of loss III. PROPERTY INSURANCE TERMS AND RELATED CONCEPTS B. Loss/Damage Valuation Ref: Fundamentals of Risk and Insurance by Emmett and 1. Direct Loss vs. Indirect Loss (Loss of Use) Therese Vaughn (Wiley), Businessowners Policy Coverage by 2. Damages
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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3. Scope of Loss or Damages a. Express b. Implied V. DELAWARE STATUTES, REGULATIONS, AND c. Apparent BULLETINS PERTINENT TO PROPERTY 3. Agency versus individual license INSURANCE AND THE LICENSING OF MARINE AND Ref: Title 18, Chapter 17 TRANSPORTATION ADJUSTERS 4. Suitability All references are to Title 18 Chapter 17 of the Delaware 5. Ethical behavior and good moral standards Insurance Code except where otherwise specified below. B. Market Conduct examination A. Definitions C. Disclosure letters and forms 1. Persons required to be licensed and their D. Errors and Omissions insurance responsibilities E. Unfair practices a. Adjuster 1. Misrepresentation b. License 2. Defamation c. Licensee 3. Coercion and intimidation 2. License requirements 4. Rebating a. Fees and application 5. Unfair claims settlement practices b. Prerequisites 6. Publicized Founded Complaints c. Special qualifications Ref: 907 d. Written examinations and exemptions F. Insurance fraud and Fraud Prevention e. Exceptions to licensing Bureau 3. Authority G. Privacy a. Definitions H. Conflict of issues b. License requirements 4. Notice of address change 5. Ownership of other entities DELAWARE–MARINE AND 6. Contracts and Solicitation of Contracts TRANSPORTATION PRODUCER 7. Regulation and Scope CONTENT OUTLINE B. Marketing Practices 1. Duties of licensed personnel State Statutes, Rules, and Regulations 2. Record keeping (25 scoreable questions) 3. License denial, suspension, revocation, and penalties I. TERMS AND CONCEPTS 4. Prohibited Acts A. Nation-wide marine definition C. Insurance Commissioner B. Indemnity Ref: Chapter 3 unless otherwise specified C. General average loss 1. Election and term D. Bailment 2. General powers and duties E. Franchise clause 3. Maintenance of Records F. Coinsurance Ref: Chapter 17, Section 1707 G. Salvage II. TYPES OF POLICIES 4. Hearings A. Inland Marine Block 5. Cease and desist orders and penalties B. Bailee's Customers Ref: Chapters 17 and 23 C. Motor Truck Cargo 6. General penalties D. Packaged Yacht Ref: Chapters 1, 3, and 17 E. Protection and Indemnity VI. INSURANCE ETHICS F. Hull policy Ref: In addition to specific cites listed from Title 18, it is G. Inland Marine Floaters recommended that the candidate review the following study a. Personal Property materials: Title 18 – Chapters 17, 23 & 24, Regulations 902 and b. Personal Effects 904, Ethics (Bisys), Ethical Practices (Bisys), Ethics for the c. Furs and Jewelry Insurance Professional (Kaplan), Ethics For the Field of d. Fine Arts Insurance (Cape Education, Inc.), The Claims Environment e. Physicians and Surgeons Equipment (Edited by James Markham IIA) and BHM Insurance Services. f. Wedding Present A. Definitions g. Salesmen 1. Business Practices h. Jeweler's 2. Authority i. Contractors Equipment
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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III. COVERAGES DELAWARE–SURETY A. Jewelry CONTENT OUTLINE B. Transportation C. Communication (25 scoreable questions) D. Collapse of bridges References include: Surety Association of America, Surety E. Flood Information Office, National Association of Surety Bond Producer; F. Collision Delaware Code Chapter 77 Title 18 on Suretyship, Chapter 9 Title IV. COMMON EXCLUSIONS 18. A. Wear and tear I. TERMS AND CONCEPTS B. Gradual deterioration A. Definition of fidelity C. Vermin B. Definition of surety V. STATE STATUTES AND REGULATIONS PERTINENT TO ALL LINES II. PURPOSE AND TYPE OF SURETY BONDS A. License Regulations A. Parties to a surety bond 1. Persons required to be licensed and 1. Principal responsibilities 2. Obligee a. Producer/Agent and Broker 3. Surety b. Producer/Consultant B. Obligation of the surety Ref: 1702 (i) C. Contract bonds 2. License requirements D. License and permit bonds a. Fees and application E. Public official bonds b. Prerequisites F. Court bonds c. Written examinations and exemptions 1. Judicial d. Exemptions from licensing 2. Fiduciary e. Insurer’s appointment G. Miscellaneous bonds 3. Authority H. Forms of Suretyship a. Definitions 1. Individual Ref: 902–908 2. Corporate b. License requirements I. Premiums and terms of obligations Ref: Title 18 Chapter 17 c. Lines of authority III. PURPOSE AND TYPE OF FIDELITY BONDS d. Termination of appointment A. Individual 4. Notice of address change B. Schedule 5. Continuing education C. Blanket Ref: Regulation 504 D. Financial institutions B. Marketing Practices E. Premiums and terms of obligations 1. Duties of licensed personnel IV. DELAWARE STATUTES AND REGULATIONS 2. Record keeping All references are to Title 18 Chapter 17 of the Delaware 3. Compensation of licensees Insurance Code except where otherwise specified below. 4. Termination, suspension, fines A. Definitions C. Insurance Commissioner 1. Persons required to be licensed and their 1. Election and term responsibilities Ref: 301 a. Adjuster 2. General powers and duties b. License Ref: 309, 310, 311 c. Licensee 3. Examination of insurers and producers d. Surety Producer/Adjuster Ref: 318, 319, 322, 2306 2. License requirements 4. Hearings a. Fees and application Ref: 323, 327, 328, 2307 b. Prerequisites 5. Cease and desist orders and penalties c. Special qualifications Ref: 2308, 2311 d. Written examinations and exemptions 6. General penalties e. Exceptions to licensing Ref: 106, 1712 f. Surety bonds 3. Authority a. Definitions b. License requirements
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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4. Notice of address change III. PURPOSE AND TYPE OF FIDELITY BONDS 5. Continuing education A. Individual Ref: Regulation 504 B. Schedule 6. Ownership of other entities C. Blanket 7. Contracts and Solicitation of Contracts D. Financial institutions 8. Regulation and Scope E. Premiums and terms of obligations B. Marketing Practices IV. DELAWARE STATUTES AND REGULATIONS 1. Duties of licensed personnel All references are to Title 18 Chapter 17 of the Delaware 2. Record keeping Insurance Code except where otherwise specified below. 3. Compensation of licensees A. Definitions 4. License denial, suspension, revocation, and 1. Persons required to be licensed and their penalties responsibilities 5. Prohibited Acts a. Adjuster C. Insurance Commissioner b. License Ref: Chapter 3 unless otherwise specified c. Licensee 1. Election and term d. Surety Producer/Adjuster 2. General powers and duties 2. License requirements 3. Maintenance of Records a. Fees and application Ref: Chapter 17, Section 1707 b. Prerequisites 4. Hearings c. Special qualifications 5. Cease and desist orders and penalties d. Written examinations and exemptions Ref: Chapters 17 and 23 e. Exceptions to licensing 6. General penalties f. Surety bonds Ref: Chapters 1, 3, and 17 3. Authority a. Definitions b. License requirements DELAWARE–SURETY ADJUSTER 4. Notice of address change CONTENT OUTLINE 5. Continuing education (75 scoreable questions) Ref: Regulation 504 References include: Surety Association of America, Surety 6. Ownership of other entities Information Office, National Association of Surety Bond Producer; 7. Contracts and Solicitation of Contracts Delaware Code Chapter 77 Title 18 on Suretyship, Chapter 9 Title 8. Regulation and Scope 18. B. Marketing Practices 1. Duties of licensed personnel I. TERMS AND CONCEPTS 2. Record keeping C. Definition of fidelity 3. Compensation of licensees D. Definition of surety 4. License denial, suspension, revocation, and II. PURPOSE AND TYPE OF SURETY BONDS penalties A. Parties to a surety bond 5. Prohibited Acts 1. Principal C. Insurance Commissioner 2. Obligee Ref: Chapter 3 unless otherwise specified 3. Surety 1. Election and term B. Obligation of the surety 2. General powers and duties C. Contract bonds 3. Maintenance of Records D. License and permit bonds Ref: Chapter 17, Section 1707 E. Public official bonds 4. Hearings F. Court bonds 5. Cease and desist orders and penalties 1. Judicial Ref: Chapters 17 and 23 2. Fiduciary 6. General penalties G. Miscellaneous bonds Ref: Chapters 1, 3, and 17 H. Forms of Suretyship 1. Individual 2. Corporate DELAWARE–TITLE INSURANCE J. Premiums and terms of obligations CONTENT OUTLINE Product Knowledge, Terms, and Concepts
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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State Statutes, Rules, and Regulations A. Warranty Deeds (40 questions) B. Quitclaim Deeds Note: All references are to General Product Knowledge unless C. Mortgage otherwise noted. For more information on Title Insurance, contact D. Foreclosure the American Title Land Association (ALTA). E. Probate I. TITLE INSURANCE TERMS AND CONCEPTS ...... 10 F. Assumption deeds A. Commitment G. Power of Attorney B. Policy C. Exception VII. DELAWARE STATUTES, REGULATIONS, AND D. Requirement BULLETINS COMMON TO ALL LINES OF E. Endorsement INSURANCE...... 8 F. Insurer/Underwriter A. License Regulations G. Chain of Title 1. Persons required to be licensed and H. Closing and Settlement responsibilities I. Title Agent a. Producer/Agent and Broker J. Fiduciary Responsibilities 2. License requirements K. Search and Examination a. Fees and application L. Premium rates b. Prerequisites M. Insurable Interest c. Special qualifications N. Title Insurance d. Written examinations and exemptions O. Certificate of Title e. Exemptions from licensing P. Gap coverage f. Insurer’s appointment 3. Authority II. TITLE INSURANCE POLICIES ...... 6 a. Definitions A. Approved Policy Forms Ref: 902–908 1. ALTA Owners policy b. License requirements 2. ALTA Loan policy Ref: Title 18 Chapter 17 3. ALTA U.S. Policy c. Lines of authority 4. ALTA Short Form and Residential Loan d. Termination of appointment 5. ALTA Homeowners Policy of Title Insurance 4. Notice of address change 6. ALTA Expanded Coverage Residential Loan B. Marketing Practices B. Policy Provisions 1. Duties of licensed personnel 1. Covered risks 2. Record keeping 2. Terms and Conditions 3. Compensation of licensees 3. Exclusions 4. Termination, suspension, fines III. REAL ESTATE OWNERSHIP ...... 3 C. Insurance Commissioner A. Joint Tenancy 1. Election and term B. Tenants In Common Ref: 301 C. Fee Simple 2. General powers and duties D. Life Estate Ref: 309, 310, 311 E. Lease Hold 3. Examination of insurers and producers Ref: 318, 319, 322, 2306 IV. RIGHTS AND INTERESTS...... 4 4. Hearings A. Easement and Right of Way Ref: 323, 327, 328, 2307 B. Liens 5. Cease and desist orders and penalties 1. Voluntary Ref: 2308, 2311 2. Involuntary 6. General penalties 3. Attachment of liens and judgments Ref: 106 C. Covenants, Conditions, and Restrictions D. Adverse possession VIII. DELAWARE RULES AND STATUTES PERTINENT TO TITLE INSURANCE ...... 3 V. LEGAL DESCRIPTIONS ...... 2 Ref: Delaware Title Insurance Rating Bureau Manual. A. Platted and Unplatted B. Metes and Bounds C. Lot and Block VI. METHODS OF TRANSFER/CONVEYANCES ...... 4
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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DELAWARE–BAIL BONDS 6. Prohibited Practices INSURANCE Ref: 4350 7. Collateral; fiduciary capacity CONTENT OUTLINE Ref: 4348 Product Knowledge, Terms, and Concepts 8. Court Registration Process State Statutes, Rules, and Regulations Ref: 4345 (50 questions) 9. Trade Names Ref. 4350 I. DELAWARE STATUTES, REGULATIONS, AND C. Insurance Commissioner BULLETINS PERTINENT TO BAIL AND BAIL 1. Election and Terms AGENTS Ref: 301 A. License Regulations 2. General powers and duties 1. Persons required to be licensed and Ref: 309, 310, 311 responsibilities 3. Examination of insurers and producers Ref: Title 18, Chapter 43 Ref: 318, 319, 322, 2306 2. License requirements 4. Hearings a. Fees and application Ref: 323, 327, 328, 2307 b. Prerequisites 5. Cease and desist orders and penalties Ref: 4333 Ref: 2308, 2311 3. Special qualifications 6. General penalties Ref: 4344 Ref: 106 4. Written examinations 7. Renewal/Continuing Education Ref: 4337 Ref: Title 18, Chapter 17 5. Insurer’s appointment II. INSURANCE ETHICS Ref: 4342, 4343 Ref: In addition to specific cites listed from Title 18, it 6. License renewal is recommended that the candidate review the following Ref: 4335 study materials: Title 18 – Chapters 43, Regulation 7. Bonds 504. Ref: 4336 A. Definitions 8. Issues of license; notice of refusal 1. Market Conduct Ref: 4338 2. Authority 9. Waiver of license fee a. Express Ref: 4339 b. Implied 10. Business entity c. Lingering implied 11. Authority d. Apparent a. Definitions 3. Agency versus individual licensee Ref: 4332 Ref: Title 18 Chapter 43 b. Termination of appointment 4. Power of Attorney Ref: 4343 Ref: 4351 c. License required 5. Ethical behavior and good moral standards Ref: 4332, 4333 B. Market Conduct examination 12. Notice of address change C. Binding coverage 13. Continuing education D. Disclosure letters and forms Ref: Regulation 504 E. Errors and Omissions insurance B. Marketing Practices F. Unfair practices Ref: Title 18, Chapter 43 Ref: 2303, 2304, 2305, 2315, 2316, Regulation 902 1. Duties of licensed personnel 1. Commingling Ref: 4344 2. Misrepresentation 2. Record keeping 3. Defamation Ref: 4341 4. Coercion, and intimidation 3. Collections and charges permitted Ref: 2304(4) Ref: 4347 5. Unfair discrimination 4. Termination, suspension, fines 6. Rebating Ref: 4343, 4354 7. Unfair trade practice 5. Display of license Ref: Chapter 23 Ref: 4346
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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8. Coercion of debtors CONTENT OUTLINE Ref: 2305(a) State Statutes, Rules, and Regulations G. Insurance fraud and Fraud Prevention Bureau (50 scoreable questions) Ref: Chapter 24 All references are to sections in Title 18, Chapter 17 of the H. Advertisement procedures Delaware Insurance Code and to general product knowledge, I. Consumer reports unless otherwise noted. J. Privacy I. INSURANCE TERMS AND CONCEPTS K. Conflict of issues and bail agents A. Arbitration responsibilities B. Binder L. Designated Responsible Bail Agents C. Concealment III. BAIL BOND PROCEDURES D. Deductible A. General Duties E. Definition of Insured 1. Discharging bail/collateral F. Employer Classification 2. Posting bail G. Endorsement 3. Application process for indemnitor H. Hazard B. Recommitment of defendant I. Indemnity C. Bond forfeitures J. Insurable Interest D. Bond posting/transfers K. Liability E. Arrests/ Surrenders L. Misrepresentation IV. FIDUCIARY RESPONSIBILITIES M. Risk Ref: Title 18 Chapter 43 N. Subrogation A. Commissions, fees, premiums B. Recordkeeping II. THE INSURANCE CONTRACT C. Qualification bond A. Information Page D. Forfeitures B. Insuring Agreement, Conditions, and E. Collateral Exclusions 1. Receipts C. Endorsement 2. Maintenance D. Limitations F. Bond principal limits III. ADJUSTER G. Limits A. Roles and Responsibilities of Adjuster V. DEFINITIONS B. Loss Report Ref: Black’s Law Dictionary, Dictionary of Insurance 1. Essential Elements Terms a. Inception/Expiration Date A. Bail b. Occurrence Date B. Bail bonds c. Identification of Parties Involved 1. Qualification bond d. Policy Form/Number 2. Surety bond e. Description of Loss 3. Appearance bond f. Coverages 4. Cash bond g. Deductible 5. Civil bond h. Tort/Tort Feasors 6. Personal Recognizance bond C. Loss Valuation C. Collateral 1. Damages D. Forfeitures a. Part of Body E. Power of attorney b. Nature of Accident F. Recognizance c. Cause of Accident G. Extradition H. Exoneration IV. WORKERS’ COMPENSATION INSURANCE, I. Surety EMPLOYERS LIABILITY INSURANCE, J. Premium AND RELATED ISSUES K. Indemnitor (This section does not deal with specifics of state law.) L. Principal/Defendant A. Standard Policy Concepts B. Self-Insurers C. Work-Related vs. Non-Work-Related DELAWARE–ADJUSTER WORKERS’ D. Other States’ Coverage Insurance COMPENSATION
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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V. DELAWARE STATUTES AND REGULATIONS 2. Injury Reports COMMON TO ALL LINES OF INSURANCE 3. Compensation Claims A. License Regulations D. Coverages 1. Persons Required to be Licensed and 1. Injuries Covered Responsibilities 2. Employment Covered a. Producer/Agent and Broker 3. Employment Excluded b. Producer/Consultant 4. Sole Proprietors and Partners Ref: 1702 (i) 5. Waiting Period 2. License Requirements 6. Who Must Provide a. Fees and Application E. Benefits b. Prerequisites 1. Medical Care Services and Supplies c. Written Examinations and Exemptions 2. Income d. Exemptions from Licensing a. Total Disability e. Insurer’s Appointment b. Partial Disability 3. Authority c. Weekly Wages a. Definitions d. Payment Ref: 902–908 3. Vocational Rehabilitation b. License Requirements 4. Death and Burial Ref: Title 18, Chapter 17 5. Right to Sue c. Lines of Authority F. Audits d. Termination of Appointment G. Workers’ Compensation Assigned Risk Plan 4. Notice of Address Change H. Industrial Accident Board 5. Continuing Education Ref: Regulation 504 VII. DELAWARE WORKERS’ COMPENSATION ADJUSTING B. Marketing Practices A. Claims Practices 1. Duties of Licensed Personnel B. Hearing 2. Record Keeping C. Medical Examinations 3. Compensation of Licensees D. Settlements/Awards 4. Termination, Suspension, Fines C. Insurance Commissioner 1. Election and Term Ref: 301 DELAWARE–CROP PRODUCER 2. General Powers and Duties CONTENT OUTLINE Ref: 309, 310, 311 3. Examination of Insurers and Producers State Statutes, Rules, and Regulations Ref: 318, 319, 322, 2306 (50 scoreable questions) 4. Hearings References for this examination can be found at the following Ref: 323, 327, 328, 2307 sources: 5. Cease and Desist Orders and Penalties - Risk Management Agency Web site: Ref: 2308, 2311 www.rma.usda.gov/publications - National Crop Insurance Services Web site: www.ag-risk.org 6. General Penalties - Individual crop insurance companies Ref: 106, 1712 I. GENERAL INSURANCE TERMS AND CONCEPTS VI. DELAWARE LAWS, RULES, AND REGULATIONS A. Assignment PERTINENT TO WORKERS’ COMPENSATION All references are to sections in Title 19, Chapter 23 of the B. Insurance Application Delaware Insurance Code. C. Coinsurance A. Purpose D. Hazard B. Definitions E. Indemnity 1. Employer F. Insurable interest 2. Employee G. Insuring Agreement 3. Total Disability H. Limits of Liability 4. Partial Disability I. Loss 5. Permanent Disability 1. Direct C. Requirements/Procedures 2. Indirect 1. Exclusiveness of Right to Compensation J. Negligence
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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K. Occurrence 2. Coarse Grains Provisions L. Peril a. Replant M. Pro-rata liability b. Prevented Planting N. Risk c. Late Planting O. Crop Hail organizations 3. Catastrophic Risk Protection Coverage (CAT) P. Federal Crop Act of 1980 Endorsement D. Claims II. CROP HAIL INSURANCE 1. Covered Perils A. Policy rates 2. Loss Reporting Requirements B. Coverages available 3. Duties after a Loss C. Policy provisions 1. NCIS general provisions IV. DELAWARE LAWS, RULES, AND REGULATIONS 2. NCIS Special provisions PERTINENT TO CROP INSURANCE D. Liability A. License Regulations E. Claim Settlement Practices 1. Persons required to be licensed and 1. Claims site assessment responsibilities a. Site testing a. Producer/Agent and Broker b. Standard measures b. Producer/Consultant c. Location Ref: 1702 (i) 2. Notice of loss 2. License requirements 3. Insured’s duties a. Fees and application 4. Agent’s duties (Agent Only) b. Prerequisites 5. Percentage Plan (Agent Only) c. Written examinations and exemptions 6. Arbitration and appraisal (Agent Only) d. Exemptions from licensing 7. Loss payment e. Insurer’s appointment F. Cancellation and nonrenewal 3. Authority G. NCIS policies a. Definitions of insurance Ref: 902–908 III. MULTIPLE PERIL CROP INSURANCE b. License requirements A. Fundamentals of Multiple Peril Crop Insurance Ref: Title 18 Chapter 17 MPCI c. Lines of authority 1. Actual Production History (APH) d. Termination of appointment 2. Production Reporting 4. Notice of address change 3. Acreage Reporting 5. Continuing education 4. Important Dates Ref: Regulation 504 5. Written Agreements B. Marketing Practices 6. Actuarial Documents 1. Duties of licensed personnel 7. Insured Eligibility 2. Record keeping 8. Unit Structure 3. Compensation of licensees 9. Coverage Levels 4. Termination, suspension, fines 10. Administrative Fees C. Insurance Commissioner 11. Life of the Policy 1. Election and term 12. Yield/Revenue Guarantees Ref: 301 B. Plans of Insurance 2. General powers and duties 1. Actual Production History (APH) Ref: 309, 310, 311 a. Buy-up Coverage 3. Examination of insurers and producers b. Catastrophic Risk Protection Ref: 318, 319, 322, 2306 Coverage (CAT) 4. Hearings 2. Crop Revenue Coverage (CRC) Ref: 323, 327, 328, 2307 3. Revenue Assurance (RA) 5. Cease and desist orders and penalties 4. Income Protection (IP) Ref: 2308, 2311 5. Group Risk Plan (GRP) 6. General penalties 6. Group Risk Income Protection (GRIP) Ref: 106, 1712 7. Livestock Risk Protection (LRP) D. Producer fiduciary responsibilities 8. Livestock Gross Margin (LGM)
C. Policy Provisions
1. Common/Basic Provisions
Delaware Insurance Supplement - Examination Content Outlines January 1, 2016 *The Delaware Motor Vehicle Producer exam was retired as of October 12, 2015.
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