EBM 618 Insurance Services: Property & Casualty
Property and casualty insurance protects a person or business from damage to, or loss of insured property and as well as legal liability for losses caused by injury to other people or their property or the loss of its income - producing liabilities. P&C Insurance contributes to economic growth and development by mitigating financial volatility resulting from large losses, motivating investment in property and commercial activity with inherent risks and facilitating commerce and trade. Casualty insurance is typically combined with property insurance and often referred to as "property and casualty" insurance. Property insurance insures the location of the business while casualty insurance insures the business. P & C insurance is divided into personal lines and commercial lines.