Casualty insurance
some insurance men predict that the casualty insurance of the future will include liability and disability lines only. Later in Chapter 2 the book states that insurance was traditionally classified under life, fire-marine, and casualty. Kulp wrote: It has never been possible really to define casualty insurance.Fire-marine and casualty were portmanteau terms. It may also include earthquake, political risk insurance, terrorism insurance, fidelity and surety bonds. The state of Illinois includes vehicle, liability, worker s compensation, glass, livestock, legal expenses, and miscellaneous insurance under its class of casualty insurance. In 1956, in the preface to the fourth edition of Casualty Insurance Clarence A.
Since multiple-line policies began to be written (insurance contracts covering several types of risks), the last two began to merge. Broadly speaking, it may be defined as a list of individual insurances, usually written in a separate policy, in three broad categories: third party or liability, disability or accident and health, material damage.
One of the results of comprehensive policy-writing .. When the NAIC approved multiple underwriting in 1946, casualty insurance was defined as a blanket term for legal liability except marine, disability and medical care, and some damage to physical property. .
Casualty insurance is a problematically defined term It may include marine insurance for shipwrecks or losses at sea or fidelity and surety insurance. is to raise the question of the usefulness of the traditional concept of casualty insurance ..
