Casualty Insurance


DEFINITION of 'Casualty Insurance'

A broad category of coverage against loss of property, damage or other liabilities. Casualty insurance includes vehicle insurance, liability insurance, theft insurance and elevator insurance.

BREAKING DOWN 'Casualty Insurance'

An important type of casualty insurance for businesses is workers' compensation insurance, which protects a company from liabilities that arise when a worker is injured on the job. For homeowners or car owners, it's important to have casualty insurance as damage can end up being a large expense.

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  1. I know there is a form of deposit insurance where a portion of my bank account deposits ...

    First things first, it's only partially correct to think that a portion of your bank deposits is protected. The Federal Deposit ... Read Full Answer >>
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    The two related terms "peril" and "hazard" are often used in reference to the insurance industry. Essentially, a peril is ... Read Full Answer >>
  3. What risks do I face when investing in the insurance sector?

    Like all equity investments, insurance companies present investors with market risk. Insurance companies, like banks, also ... Read Full Answer >>
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