| insurance providing coverage against accident and property damages, as automobile, theft, liability, and explosion insurance, but not including life insurance, fire insurance, or marine insurance. |
Casualty Insurance
A broad category of coverage against loss of property, damage or other liabilities, including such things as vehicle insurance, liability insurance, theft insurance and elevator insurance.
Investopedia Commentary
An important type of casualty insurance for businesses is workers compensation insurance, which protects a company from liabilities that arise when a worker is injured in the course of work. For homeowners or car owners it's important to have casualty insurance as damage can end up being a large expense.
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See also: Act of God Bond, Indemnity, Insurance