There are two main categories of insurance, health and life insurance and property and casualty insurance . Property insurance covers loss of property or damages. Losses such as homes, PC’s, vehicles, jewelry, and other hardware goods are included. Casualty insurance is coverage for legal expenses resulting from property damage or bodily injury to someone else or their property. There are two types of property and casualty insurance : personal insurance and commercial insurance.

Commercial insurance is usually purchased by businesses, hospitals, governments and schools to protect losses that are caused by fire, crime, or other acts that can damage property.

Personal insurance protects people and their property, usually homes and vehicles from loss and damages that occur.

The job market for property and casualty insurance is growing. With the invention of new technology and the Internet, property and casualty insurance agents can administer more applications in a shorter period of time. Also, with the invention of all this new technology, the call for property and casualty insurance on both personal and commercial levels is escalating.

Property insurance is coverage for a structure and its contents from losses incurred by fire or theft. In many cases there are other threats that can be added onto your property insurance policy, such as flood damage, snow/ice damage, damage from earthquakes and other specific event threats that can cause massive damage or loss. In some areas, specific threat insurance is added to protect property from common area specific threats. For example, in California, insurance to cover damages incurred from earthquakes is essential.

Casualty insurance is coverage for bodily harm or property damage of someone else. For example, if a client comes to your workplace and injures themselves, or an employee injures themselves due to neglect, you can be held legally responsible. Casualty insurance will cover their medical and legal expenses that could be incurred if you are sued for damages. An alternate example is in the event of a motor vehicle collision where the occupants of the other vehicle are injured due to your neglect, your casualty insurance covers their medical expenses and any legal counsel which you may require if you are held responsible.

Employment opportunities in the property and casualty insurance industry are for agents, claims adjustors, underwriters, appraisers and investigators. Agents are those that help individuals and businesses choose insurance that is suitable for their needs. Claims adjustors, examiners and investigators work for the insurance company with which a claim has been filed. They will determine if coverage should be provided. Adjustors also chart the work needed to reverse the damages that were done to property or a person. Underwriters ascertain the premiums and write the policies which will cover the person or business and also assesses the risk of loss for each client. Claims investigators are requested when there is a suggestion of criminal activity or insurance fraud.

The property and casualty insurance industry are influenced by the ebb and tide of developments and cycles of the world surrounding it. It is affected by major cataclysmic events, such as Hurricanes and massive earthquakes which cause a tremor to be sent into the property and loss insurance business. The property insurance rates in ‘hurricane alley’, for example, are significantly higher than property insurance rates in areas that do not have any likelihood of hurricane activity.

Having property insurance and casualty insurance is becoming more and more important in today’s world. You should look at your insurance policy and see what you are covered for. Many people have casualty insurance added into their car insurance policies to protect them from liable damages caused in motor vehicle collisions.

Are you covered?