General insurance usually covers non-life insurance policies. Home insurances, automobile insurances, pet insurance, etc, typically fall under the category of general insurances.
General insurance is tailored to offer payment on the basis of the loss from specific financial events. Across United States, general insurance is popularly known as property and casualty (P & C) insurance.
In few European nations, general insurance can be categorized into three main divisions as follows:
General insurance on personal lines
General insurance on commercial lines
General insurance on the basis of London market( available in United Kingdom)
General insurance on commercial lines products are made for comparatively smaller legal entities such as employer’s liabilities, public liability, commercial fleet, product liabilities are insured.
The London market insurance is highly popular covering supermarkets, restaurants and even the football players who are insured by the London Market insurance providers.
General insurance on personal lines are sold in large measures, this type of general insurance may include private car, pet insurance, homeowners insurance, creditor insurance, etc.
Various surveys revealed the fact that USA is the largest market of General insurance.