Florida P&C Cheat Sheet.
The night-before summary, built like the exam.

Formulas you must know cold

• Coinsurance: (insurance carried ÷ insurance required) × loss − deductible. Required = value × coinsurance %. Apply the ratio first, deductible last.
• Actual cash value: replacement cost − depreciation.
• Pro rata other insurance: each insurer pays (its limit ÷ total limits) × loss.
• Split limits (e.g., 100/300/50): bodily injury per person / bodily injury per accident / property damage per accident. Cap each person first, then the accident total.
• Percentage hurricane deductible: percentage × dwelling limit (never the loss amount).

Florida auto: the statutory numbers

• PIP (no-fault): $10,000 medical and disability limit; pays 80% of medical, 60% of lost gross income; $5,000 death benefit in addition; initial care within 14 days of the crash or medical benefits are lost.
• Property damage liability: $10,000 per crash required to register; alternative compliance with $30,000 combined BI + PD single limit.
• PIP requirement applies to motor vehicles with four or more wheels; motorcycles are outside the mandate.

Hurricane and property, Florida-style

• Insurers must offer hurricane deductibles of $500, 2%, 5%, and 10% of dwelling limits on personal residential policies.
• Hurricane deductible is separate from the all-other-perils deductible; only one applies per claim.
• Flood is excluded from homeowners forms; separate flood policy required. Wind-driven rain through a storm-created opening = wind loss.
• Catastrophic ground cover collapse: mandatory coverage. Broader sinkhole loss coverage: optional endorsement.

Homeowners forms at a glance

• Basic dwelling form: short named-peril list, ACV. Broad: more perils. Special: open peril on dwelling, named perils on contents.
• Tenant form: contents + liability + loss of use, no dwelling. Unit-owners: adds interior alterations and loss assessment. Modified form: older homes, functional settlement. Comprehensive: open peril on dwelling and contents.
• Section I = property (dwelling, other structures, contents, loss of use). Section II = liability + medical payments to others.

Casualty essentials

• CGL: A = BI/PD liability, B = personal and advertising injury, C = med pay. Defense costs are outside the limits; aggregate resets each policy period.
• Occurrence = injury during the period; claims-made = claim first made during the period, on/after the retroactive date.
• Workers' comp: no-fault benefits, exclusive remedy; Part One statutory, Part Two employers liability.
• Surety: principal performs, obligee is protected, surety guarantees and recovers from the principal.

Licensing and regulators

• 200-hour pre-licensing course; $50 application fee; 24 CE hours per 2 years; license expires after 48 months unappointed; appointment required before transacting.
• DFS: licenses agents/adjusters, consumer services, fraud. OIR: licenses insurers (certificate of authority), rates, forms, solvency.
• Citizens: state-created insurer of last resort. FIGA: pays claims of insolvent admitted insurers. Cat Fund: reimburses insurers after catastrophic hurricanes.
• Unfair practices: twisting (replacement by misrepresentation), sliding (unconsented add-ons), coercion (tied selling), rebating (only within strict statutory conditions), unfair discrimination (same class, different rates).