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 Posted: Sat Mar 14, 2009 4:56 am Post subject: P&C Lines of Business |
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| What exactly is Line of Business in Property and Casualty insurance parlance ? Are there any standards ? Is it Personal and Commercial; or Auto, Home, Marine etc ? |
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Student
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| Posted: Sat Mar 14, 2009 11:39 am Post subject: |
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I'd hazard a guess here...apart from life, health and annuity, everything else would fall under the category of P&C.
P&C stands for property and casualty and a P&C agent would insure auto, home, business, marine and so forth. Some may also choose to specialise in auto or home or business.
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InsAmi
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| Posted: Sat Mar 14, 2009 7:59 pm Post subject: |
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Thank you for the reply Ami.
But my question is: Are Auto, Home, Business, Marine etc. are Lines of Business ?
Or
Are Personal Lines and Commercial Lines are LoBs ? |
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Student
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| Posted: Sun Apr 25, 2010 7:13 am Post subject: |
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Yes and No.
Auto, Home
Business - not really an LOB = Covers many things. Business income coverage and many more.
Marine = 1. Inland Marine 2. Ocean Marine
Commercial Lines = Insurance for Organizations.
Personal Lines = A person's property / autos...
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Suresh
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| Posted: Sun Apr 25, 2010 7:15 am Post subject: |
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LOB refers to - A specific Line Of Business
Eg: W.K., Auto.
Business - not really an LOB = Covers many things. Business income coverage and many more.
Marine = 1. Inland Marine 2. Ocean Marine
Commercial Lines = Insurance for Organizations.
Personal Lines = A person's property / autos...
Suresh, INS
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heidrek
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