Casualty insurance from Insurance Brokers Online is generally in conjunction with the property insurance and is commonly known as “property and casualty” insurance. But, there is dissimilarity in this type of insurance.

This is particularly true following the incidents such as hurricanes in 2004-2005 and September 11, 2001 attack. Property insurance usually covers the site of the business whereas casualty insurance insures the business. For instance, if your business is on the 10th floor of a building and a natural catastrophe, for example a flood, occurs that destroys the floors from 1-9, but does not cause any damage to 10th floor, then any damage will not be covered by your property insurance since there in damage to the site of the business.

Conversely, if you have business interruption or business continuation insurance you might be covered for the indirect damage to your business. The types of coverage’s included by casualty insurance include flood insurance, terrorism coverage, government liability or political risk, employee theft, cyber-fraud, identity theft, and cyber-liability.

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Posted by Minovi on February 15th, 2010 :: Filed under Finance
Tags :: Accident Sickness Unemployment

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