web statistics
Classes of insurance - Meaning
  1. Articles

Classes of insurance – Meaning

Classes of insurance

In relation with the nature of loss we can classify insurance into two classes.

  • Property insurance and
  • Personal insurance.

Property insurance is that which indemnifies for loss of one’s possession in specified ways, such as by fire, by the elements at sea (marine), by hail, lightning, or cyclone, by death (of valuable animals), by robbery, and by breakage (as of window-glass).

Personal insurance is that which indemnifies the beneficiary for loss of income as the result of various happenings to persons, the chief being death, accident, sickness, invalidity, old age, and unemployment.

Do you like Arjun's articles? Follow on social!
Comments to: Classes of insurance – Meaning

Your email address will not be published. Required fields are marked *

Attach images - Only PNG, JPG, JPEG and GIF are supported.

Login

Welcome to Typer

Brief and amiable onboarding is the first thing a new user sees in the theme.
Join Typer
Registration is closed.