Casualty Insurance Overview
Casualty insurance is a type of coverage that is primarily concerned with losses caused by injuries to persons and the legal liability imposed on the insured for such injury or for damage to property of others. It is a broad category that encompasses several types of coverage beyond just Casualty Insurance, such as:
Workers Compensation: Provides coverage for medical costs and a portion of lost wages for employees who get injured or ill on the job.
Errors and Omissions (E&O): This responsibility insurance provides protection for professionals against claims of inadequate work or negligent actions.
Fidelity and Crime Insurance: Protects businesses from loss of money, securities, or inventory resulting from crime such as employee theft, embezzlement, forgery, or robbery.
Glass and Boiler Insurance: Covers damage to glass and equipment malfunctions of boilers and other machinery.
Various Malpractice Coverages: Provides protection to professionals from claims related to negligence or misrepresentation in the service they provide.
Casualty insurance differs notably from property insurance as it doesn’t only cover physical damage to property, but also handles legal responsibilities. This insurance category includes, but is not limited to, loss of property, responsibilities, and legacies.
For more details and understanding of specific laws and policies around casualty insurance in your area organize relevant government insurance department resources or official insurance documents linked to your state’s legislation webpage.
