Casualty

What Does Casualty Mean?

A casualty refers to damage or loss to a person or property resulting from an accident. Various insurance policies are available to cover the losses incurred in such situations.

Insuranceopedia Explains Casualty

Casualty insurance can refer to various types of coverage, such as employee insurance and property casualty insurance. Many large organizations have an employee casualty policy that covers legal and related expenses in the event of an error or omission by their employees. Property casualty insurance provides protection against financial losses incurred by a third party or damage to their belongings. This type of insurance is often considered “umbrella insurance” because it covers a wide range of damages.