What does Casualty Insurance mean?

It is a broader term pertaining to the field of insurances and it comes in direct connection with the much popular by now liability insurance. Given its broader sense, one can find under Casualty Insurance his/her car insurance, insurance against theft, and certainly liability insurance.

Casualty Insurance explained

For example, there is the workers’ compensation insurance which is a very important type of insurance both for smaller and larger companies. If an employee gets wounded during working hours, workers’ compensation safeguards the company from obligation in a sense, and compensates the injured party. All types of casualty insurance are important as they can save individuals from very high losses in case an undesirable event occurs. However it must be mentioned that casualty insurance in most cases is not a standalone solution which comprises everything, and if one wishes to have his/her house or business insured against fire for example, then a separate insurance policy is required.