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Insurance Definition: PROPERTY/CASUALTY INSURANCE

By Compuquotes Team on March 27th, 2008

PROPERTY/CASUALTY INSURANCE:

Definition:

  • 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.

Information provided by Insurance Information Institute

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