We received a copy of the new CPCU® 530 – Business Law for Insurance Professionals textbook and have compiled a detailed list of changes between the old first edition book and the newly updated second edition.

Although much of the material is reworded in the new edition, the large majority of the information has stayed the same. Overall, the most significant changes are:

• Addition of Data Privacy and Cyber Regulation section (Chapter 8)
• Updates to several sections relating to Employment Law (Chapter 11)
• Removal of chapter on International Legal Environment (the old Chapter 12)

Below is a list of the most noteworthy section changes (chapter numbers & titles taken from the new second edition book):

Please note: We do not provide any guarantee or warranty that this is an all-inclusive list of the changes to the latest textbook.

Chapter 1 – Introduction to U.S. Law

• The History of Common Law (newly added text box, but information is the same)
• (discussion of mandatory vs persuasive authority) (newly added)
• (discussion of synthesis) (expanded)
• Common Law, Congress, and Insurance Regulation (newly added)
• Discovery (newly added text box)

Chapter 2 – Understanding Contract Law, Part 1

• [is essentially the first half of the original Chapter 2]
• Mutual Assent (newly added)
• Timing of Acceptance (newly added, but information is the same)
• Silence and Complaints (newly added, but information is the same)

Chapter 3 – Understanding Contract Law, Part 2

• [is essentially the second half of the original Chapter 2]
• Statute of Frauds (reworded)
• Contra Proferentem Doctrine (newly added text box)
• Impracticability, Impossibility, and Frustration (newly added text box but information is the same)

Chapter 4 – Applying Contract Law

• [is essentially the original Chapter 3]
• Insurance Contract Formation – Offer and Acceptance (reworded)
• Examples of Acts that can Constitute a Waiver (newly added text box, but information is the same)

Chapter 5 – Examining Commercial Law

• [is essentially the original Chapter 4]
• Types of Specialized Sales Contracts (newly added diagram, but information is the same)
• Delivery and Shipping Terms Found in Sales Contracts (newly added diagram, but information is the same)
• Secured Transactions and Insurance (newly added text box)
• Bankruptcy Act (modified)
• Liquidation Proceedings (modified)

Chapter 6 – Examining Property Law

• [is essentially the original Chapter 5]

Chapter 7 – Evaluating Tort Law, Part 1

• [is essentially the first half of the original Chapter 6]

Chapter 8 – Evaluating Tort Law, Part 2

• [is mostly the same as the second half of the original Chapter 6, plus part of the original Chapter 10]
• Data Privacy and Cyber Regulation (newly added)
• United States Laws Affecting International Business [from the original Chapter 10]

Chapter 9 – Understanding Agency Law

• [is essentially the original Chapter 7]
• Types of Principals [newly added text box, but information is the same]
• Instances Where Undisclosed Principals’ Rights Against Third Party Are Limited [newly added text box, but information is the same]
• Instances Where a Third Party Has Rights of Recovery From an Agent Under a Contract With a Disclosed Principal [newly added text box, but information is the same]

Chapter 10 – Applying Agency Law

• [is essentially the original Chapter 8]
• Producer’s Liability for Failure to Procure Insurance [newly added text box]

Chapter 11 – Understanding Employment Law

• [is essentially the first half of the original Chapter 9]
• Statutory Exceptions to Employment at Will [newly added text box]
• Age Discrimination in Employment Act [reworded]
• Executive Order 11246 [recorded]
• Equal Pay Act [reworded]
• Gender Pay Issues [newly added text box]
• Rehabilitation Act of 1973 [reworded]
• Safety: Common Ground for Unions and Employers [newly added text box]
• Collective Bargaining Process [newly worded]

Chapter 12 – Differentiating Business Entities

• [is essentially the second half of the original Chapter 9]
• Exceptions to a Corporation’s Limited Liability [newly added text box]
• Limited Liability Companies [reworded]

Please note that all CPCU 530 exams moving forward will be based on the new second edition textbook, so be mindful if you are attempting to study with an older edition.