General insurance

Defining General Insurance

  • General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event.
  • General insurance typically comprises any insurance that is not determined to be life insurance.
  • It is called property and casualty insurance in the U.S. and Non-Life Insurance in Continental Europe.

Classification


Commercial lines

products are usually designed for relatively small legal entities. These would include workers' comp (employers liability), public liability, product liability, commercial fleet and other general insurance products sold in a relatively standard fashion to many organizations. There are many companies that supply comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels.

Personal lines

products are designed to be sold in large quantities. This would include autos (private car), homeowners (household), pet insurance, creditor insurance and others.