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 ?
Total Comments: 5
Posted: Sat Mar 14, 2009 11:39 am Post Subject:
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.
Posted: Sat Mar 14, 2009 07:59 pm Post Subject:
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 ?
Posted: Sun Apr 25, 2010 07:13 am Post Subject:
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...
Posted: Sun Apr 25, 2010 07:15 am Post Subject:
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...
Posted: Sat Mar 14, 2009 11:39 am Post Subject:
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.
Posted: Sat Mar 14, 2009 07:59 pm Post Subject:
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 ?
Posted: Sun Apr 25, 2010 07:13 am Post Subject:
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...
Posted: Sun Apr 25, 2010 07:15 am Post Subject:
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
Posted: Wed Feb 23, 2011 08:48 pm Post Subject:
nice summary suresh.
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