FIN 342 Lecture Notes - Lecture 11: Lightning, Nuclear Weapon
Document Summary
Property & casualty insurance includes both commercial and personal lines. Because we"ve been in a hard market, commercial direct premiums written have been flat for several years. Covers legal defense costs and judgements, against you if you lose in court: medical expenses. Covers medical costs to you and any passengers injured in an auto accident: uninsured motorists. Covers costs for you and your family from injuries caused by an uninsured motorist or a hit-and-run driver. Covers liability for damage to property of others: collision. Covers damage to your own vehicle due to auto accident, regardless of fault: comprehension physical damage. Covers you for risks caused by perils other than collision, including fire, theft, wind, hail, tornado, lightning, earthquake, falling objects, hitting deer, regardless of fault. Protects against a suit or claim arising out of the ownership/operation of a covered vehicle. Insuring agreement: covers damages for bodily injury or property, covers legal defense costs, supplementary payments.