INSURANCE - PROPERTY |
|
Property insurance provides protection against risks to property, such as fire, theft or weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main ways - open perils, or all risk perils, and named perils. Open perils cover all the causes of loss not specifically excluded or eliminated in the policy. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage causing events as fire, lightning, explosion and theft. Some of the more common exclusions include earthquake, flood, nuclear incidents, and war.
|
PROPERTY AND CASUALTY INSURANCE |
|
Property insurance provides protection against risks to property, such as fire, theft or weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance.
|
REINSURANCE |
|
Reinsurance is a means by which an insurance company (called the reinsured, ceding company or cedant) shares the risk of loss with another insurance company (called the reinsurer).
|
|
