Casualty Insurance


  • Insurance that is primarily used to combat losses due to the personal injury and liability from injury and/or damage to the personal property of others. Casualty insurance is a broad term, and is used for workers' compensation insurance, homeowners insurance, vehicle insurance, theft insurance, liability insurance, and many others.

life insurance, death, injured

Related Terms and Acronyms

  • Casualty Definition,
    • A liability or loss that results from an incident or accident.
  • Casualty and Theft Loss Definition,
    • A loss caused by a hurricane, earthquake, fire, flood, theft or similar event that is sudden, unexpected or unusual. You can deduct a portion of personal casualty or theft losses as an itemized deduction.
  • Chartered Insurance Professional (CIP) Acronym, Canada, Very Important,
    • A designation for professionals working in the casualty and property insurance industry.
    See also Fellow, Chartered Insurance Professional (FCIP).
  • Employers Liability Insurance (ELI) Acronym,
    • Insurance purchased to cover businesses for liability from workplace accidents.
  • Face Value Definition,
    • The value of an asset, or the size of an insurance benefit.
  • Fixed Premium Definition,
    • Insurance or annuity premiums that stay level for a specific period of time.
  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • Insurance Institute of America (IIA) Company,
    • An organization in America for developing curriculums, administrating examinations and providing certification programs for professionals in various insurance industries.
  • Insurance Institute of Canada (IIC) Company Est. 1899, Canada,
    • A group of insurance professionals who work together to provide education and training programs, professional development, and networking for students and insurance professionals.
  • Insurance Proceeds Definition,
    • The benefits received by an individual after a claim has been verified.
  • Life Insurance Definition, Very Important,
    • An arrangement where an insurer agrees to pay a benefit to one or more beneficiaries in the event of the policyholder's death.
    CanEquity offers life insurance.
  • Own-Occupation Provision Definition,
    • Insurance that triggers when a policyholder is unable to work in his or her own occupation due to disablement.
  • Personal Lines Definition,
    • Property and/or casualty insurance policies of individuals or whole families.
  • Policy Definition,
    • An insurance contract.
    • A set of rules or guidelines.
  • Tuition Insurance Definition,
    • Insurance that covers tuition costs if a student is required to leave school in the middle of a semester.
  • Utilization Definition,
    • How frequently a policyholder makes use of their insurance policy.
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