YOU ASK:
What is the definition of Property/Casualty Insurance?
WE ANSWER:
Property/Casualty Insurance provides protection that pays for loss or damage to insured property, as well as any legal liabilities that may arise.
This is a line of insurance that includes products such as auto insurance, homeowners insurance, and commercial insurance. Property and casualty insurance protects business and individual property from physical damage or loss, caused by accident, theft and by other covered means. It also provides protection against liability related to property.
Property and Casualty Insurance is one major line in the insurance industry (which is also called non-life insurance in some countries), while another line will be life and health insurance.
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More insurance terms around property/casualty insurance:
- Property/Casualty Insurance Cycle
- Proposition 103
- Purchasing Group
- Pure Endowment
- Pure Life Annuity
- Rate
- Rate Regulation
- Rated Policy
- Rating Agencies
- Rating Bureau
- Proof of Loss
- Professional Liability Insurance
- Product Liability Insurance
- Product Liability
- Private Placement
- Private Mortgage Insurance
- Prior Approval States
- Prime Rate
- Primary Market
- Primary Company