Why Casualty Insurance has seen a decline in coverage and pricing?
Casualty insurance has seen a decline in coverage and pricing in the 2023, with both of them presenting potential challenges to the insurance market
Property and casualty insurance (P&C insurance) are types of coverage that help protect you and the property you own. Property insurance helps cover stuff you own like your home or your car.
P&C insurance is focused on risks that result in loss to property and possessions. Some examples of this include: Auto insurance, which covers losses to individuals and property due to accidents and other unforeseen events.
Property and casualty insurance is a term describing the two forms of broad coverage that financially protect you if the property you own is damaged, lost, or stolen (“Property”) or if you are responsible for causing injury to another person or damage to his or her property (“Casualty”).