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General Insurance

General insurance or non-life insurance policies, including automobile and homeowners policies, provide payments depending on the loss from a particular financial event. General insurance is typically defined as any insurance that is not determined to be life insurance. It is called property and casualty insurance in the United States and Canada and non-life insurance in Continental Europe.

In the United Kingdom, insurance is broadly divided into three areas: personal lines, commercial lines and London market.

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.
  • Travel insurace: Travel insurance can be broadly grouped into: individual travel policy, family travel policy, student travel insurance, and senior citizen health insurance.
  • Home insurance: Home insurance protects a house and its contents.
  • Marine Insurance: Marine cargo insurance covers goods, freight, cargo, and other interests against loss or damage during transit by rail, road, sea and/or air.
  • Commercial Insurance: Commercial insurance encompasses solutions for all sectors of the industry arising out of business operations.
  • Accident Insurance
  • Theft Insurance
  • Property Insurance
  • Aviation insurance
  • Livestock insurance
  • Crop insurance

The London market insures large commercial risks such as supermarkets, football players and other very specific risks. It consists of a number of insurers, reinsurers, P&I Clubs, brokers and other companies that are typically physically located in the City of London. Lloyd’s of London is a big participant in this market.The London market also participates in personal lines and commercial lines, domestic and foreign, through reinsurance.

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