| Property and casualty insurance is a contract in | | | | coverage.These kinds of property casualty |
| which a company promises to pay for any | | | | insurance firms help the economy by assuming |
| personal or property damages in exchange for a | | | | the financial risk inherent in many personal and |
| monthly fee paid by the deed holder. Property | | | | business activities. The basic meaning of such |
| insurance is meant to cover all three businesses | | | | insurance is that the loss incurred on the |
| related tangible and intangible assets like money | | | | properties of a few is usually shared among the |
| and securities, accounts-receivable records, | | | | other holders of the same policy. This policy does |
| inventory, furniture, machinery and supplies. | | | | not include the questions of life and death, |
| Losses caused by fire and theft and other such | | | | although there are a few companies that sell a |
| disasters are included in most of the basic | | | | limited amount of sickness and accident |
| multiple-peril policies of property insurance. | | | | insurance.But key information that deserves |
| Nevertheless, property and casualty insurance has | | | | exploring is that according to the Insurance |
| become increasingly more expensive and more | | | | Services Office, Inc. (ISO) and the National |
| difficult to obtain.The availability and affordability of | | | | Association of Independent Insurers (NAII); there |
| property and casualty insurance is a crucial phase | | | | was an overall loss of $7.9 billion in the year 2001. |
| in the security of the basic functioning of the real | | | | This was the first ever loss on such a significant |
| estate markets. It is an underwritten requirement | | | | way for the industry. |
| and convention regarding property casualty | | | | |