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    General Insurance - Wikipedia, The Free Encyclopedia

    Uploaded by

    Subrata Mahapatra
    General Insurance

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    © All Rights Reserved
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    General Insurance - Wikipedia, The Free Encyclopedia

    Uploaded by

    Subrata Mahapatra
    67 views2 pages
    General Insurance

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    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    General Insurance

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    67 views2 pages

    General Insurance - Wikipedia, The Free Encyclopedia

    Uploaded by

    Subrata Mahapatra
    General Insurance

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    06/04/2016

    GeneralinsuranceWikipedia,thefreeencyclopedia

    Generalinsurance
    FromWikipedia,thefreeencyclopedia

    Generalinsuranceornonlifeinsurancepolicies,including
    automobileandhomeownerspolicies,providepaymentsdepending
    onthelossfromaparticularfinancialevent.Generalinsuranceis
    typicallydefinedasanyinsurancethatisnotdeterminedtobelife
    insurance.ItiscalledpropertyandcasualtyinsuranceintheU.S.
    andCanadaandNonLifeInsuranceinContinentalEurope.
    IntheUK,insuranceisbroadlydividedintothreeareas:personal
    lines,commerciallinesandLondonmarket.

    Nonlifeinsurancepremiawrittenin
    2005

    TheLondonmarketinsureslargecommercialriskssuchassupermarkets,footballplayersandothervery
    specificrisks.Itconsistsofanumberofinsurers,reinsurers,P&IClubs,brokersandothercompaniesthat
    aretypicallyphysicallylocatedintheCityofLondon.TheLloyd'sofLondonisabigparticipantinthis
    market.[1](http://www.iii.org/commerciallines/global/lloyds/)TheLondonMarketalsoparticipatesin
    personallinesandcommerciallines,domesticandforeign,throughreinsurance.
    Commerciallinesproductsareusuallydesignedforrelativelysmalllegalentities.Thesewouldinclude
    workers'compensation(employersliability),publicliability,productliability,commercialfleetandother
    generalinsuranceproductssoldinarelativelystandardfashiontomanyorganisations.Therearemany
    companiesthatsupplycomprehensivecommercialinsurancepackagesforawiderangeofdifferent
    industries,includingshops,restaurantsandhotels.
    Personallinesproductsaredesignedtobesoldinlargequantities.Thiswouldincludeautos(privatecar),
    homeowners(household),petinsurance,creditorinsuranceandothers.
    ACORD[2](http://www.acord.org)whichistheinsuranceindustryglobalstandardsorganisation.ACORD
    hasstandardsforpersonalandcommerciallinesandhasbeenworkingwiththeAustralianGeneralInsurers
    todevelopthoseXMLstandards,standardapplicationsforinsurance,andcertificatesofcurrency.

    Markettrends
    TheU.S.wasthelargestmarketfornonlifeinsurancepremiumswrittenin2005followedbytheEUand
    Japan.Zimbabweaninsuranceindustryisrecoveringfollowingdollarizationin2009.Itisoneofthebetter
    performingsectorsoftheeconomy.

    Seealso
    Lifeinsurance,Outstandingclaimsreserves

    Externallinks
    Retrievedfrom"https://en.wikipedia.org/w/index.php?title=General_insurance&oldid=706920171"
    https://en.wikipedia.org/wiki/General_insurance

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    06/04/2016

    GeneralinsuranceWikipedia,thefreeencyclopedia

    Categories: Typesofinsurance Actuarialscience Economicsandfinancestubs


    Thispagewaslastmodifiedon26February2016,at01:11.
    TextisavailableundertheCreativeCommonsAttributionShareAlikeLicenseadditionaltermsmay
    apply.Byusingthissite,youagreetotheTermsofUseandPrivacyPolicy.Wikipediaisa
    registeredtrademarkoftheWikimediaFoundation,Inc.,anonprofitorganization.

    https://en.wikipedia.org/wiki/General_insurance

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