- 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..In the UK, General insurance is broadly divided into three areas;
personal lines ,commercial lines andLondon market .The
London market insures large commercial risks, for example insuring supermarkets, football players and other very specific risks. It consists of a number of insurers, reinsurers, [P&I Clubs] , brokers and other companies that are typically physically located in the City of London. TheLloyd's of London is a big participant in this market. [http://www.iii.org/commerciallines/global/lloyds/] The London Market also participates in personal lines and commercial lines, domestic and foreign, throughreinsurance .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 organisations.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.Market trends
According to a study by
Swiss Re , USA was the largest market for non-life insurance premiums written in 2005 followed by the EU and Japan.ee also
Life insurance External links
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