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Causality is the relationship between causes and effects. [1] [2] While causality is also a topic studied from the perspectives of philosophy and physics, it is operationalized so that causes of an event must be in the past light cone of the event and ultimately reducible to fundamental interactions.
General insurance can be categorised in to following: Motor Insurance: Motor Insurance can be divided into two groups, two and four wheeled vehicle insurance.; Health insurance: Common types of health insurance includes: individual health insurance, family floater health insurance, comprehensive health insurance and critical illness insurance.
Causality is an influence by which one event, process, state, or object (a cause) contributes to the production of another event, process, state, or object (an effect) where the cause is at least partly responsible for the effect, and the effect is at least partly dependent on the cause. [1]
Casualty insurance is a defined term [1] which broadly encompasses insurance not directly concerned with life insurance, health insurance, or property insurance. Casualty insurance is mainly liability coverage of an individual or organization for negligent acts or omissions. [ 2 ]
In property and casualty insurance, there are three basic rate-making methods: Judgment Rating is used when the factors that determine potential losses are varied and cannot easily be quantified. [2] There are no statistics regarding quantity of future losses and probability. This means an underwriter rates each exposure individually.
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An 18th-century fire insurance contract. Property insurance can be traced to the Great Fire of London, which in 1666 devoured more than 13,000 houses.The devastating effects of the fire converted the development of insurance "from a matter of convenience into one of urgency, a change of opinion reflected in Sir Christopher Wren's inclusion of a site for 'the Insurance Office' in his new plan ...
Elements Property Insurance Co. and Heritage Property Casualty Insurance Co. each have been approved for up to 20,000 policies. Southern Fidelity Insurance Co. and Southern Fidelity Property & Casualty can remove 10,000 each. Private insurers have taken out more than 312,000 Citizens policies this year.