What is the Definition of Property/Casualty Insurance?

What is the Definition of Property/Casualty Insurance?

Covers damage to or loss of policyholders’ property and legal liability for damages caused to other people or their property. Property/casualty insurance, which includes auto, homeowners and commercial insurance, is one segment of the insurance industry. The other sector is life/health. Outside the United States, property/casualty insurance is referred to as nonlife or general insurance.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Property/Casualty Insurance?

You can find random definition and meaning of insurance terms below:


What is the meaning of Loss history

A history of a person's automobile or property losses.


What is the meaning of Loss of use (property)

Coverage that pays additional expenses when a policyholder has to move out of their residence while repairs are made, as a result of damage caused by a covered loss.


What is the meaning of Malicious mischief

Deliberate damage or destruction of another person’s property. For insurance purposes, it is typically covered under vandalism.


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