Casualty Insurance covers the insured from legal liability, burglary, theft, accident, property damage, collisions, boiler and machinery accident, credit insurance, fidelity and surety bonds.
Casualty insurance for businesses includes workers compensation insurance. Such insurance protects a company from liabilities that arise in an eventuality when a worker is injured in the course of his employment.
Casualty insurance purchased for home or business is regarded as supplementary insurance. It does not cover areas like fires and floods, which are insured separately. A specific casualty insurance plan is available at times for events like earthquakes. However, it depends on regional standards in the insurance industry.
A very important aspect of casualty insurance is that is covers fidelity as well.
Fidelity insurance protects an organization from loss of money or security which derives from any crime.
Fidelity claims arise from employee dishonesty, embezzlement, forgery, robbery, computer fraud, wire fraud, counterfeiting, and other criminal activities.
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