General insurance or non-life insurance policy, 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.
7-479: Chartered Property Casualty Underwriter (CPCU) is a professional designation in property-casualty insurance and risk management , administered by The Institutes (AKA American Institute for Chartered Property Casualty Underwriters). Achieving the designation requires completion of eight courses covering topics such as risk management, insurance operations, business law, finance and accounting, property insurance, and liability insurance. Held by over 90,000 professionals,
14-553: A Professional Code of Ethics, and must satisfy educational and experience requirements. Designation holders have formed a professional society, the Chartered Property Casualty Underwriter (CPCU) Society. In addition to annual national meetings which serve as a conferment ceremony, the society has over 150 local chapters throughout the country. Property and casualty In the United Kingdom , insurance
21-420: A relatively standard fashion to many organisations. There are many companies that supply comprehensive commercial insurance packages for a wide range of different industries, including shops, restaurants and hotels. Personal lines products are designed to be sold in large quantities. This would include autos (private car), homeowners (household), pet insurance, creditor insurance and others. ACORD , which
28-413: Is a big participant in this market. The London market also participates in personal lines and commercial lines, domestic and foreign, through reinsurance . Commercial lines products are usually designed for relatively small legal entities. These would include workers' compensation (employers liability), public liability, product liability , commercial fleet and other general insurance products sold in
35-455: Is broadly divided into three areas: personal lines, commercial lines and London market. The London market insures large commercial risks such as supermarkets, football players, corporation risks, 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
42-490: Is the insurance industry global standards organization, has standards for personal and commercial lines and has been working with the Australian General Insurers to develop those XML standards, standard applications for insurance, and certificates of currency. General insurance can be categorised in to following: The United States was the largest market for non-life insurance premiums written in 2005 followed by
49-568: The CPCU designation is the most distinguished designation offered by The Institutes for underwriters and risk management in the insurance industry. A designee must pass an exam on each topic and can choose between a personal insurance and a commercial insurance concentration, which includes one elective of their choosing, as well as one ethics course. These exams are standardized, two hour multiple choice, objective-type exams. The exams are known for their difficulty. CPCU designation holders are also bound by
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