What is a P&C insurance company?
They are insurance companies that insure the property owned by individuals like a car or house or literally anything under the sun. However, the premium cost is decided after thorough research, where the risk-prone things are insured at higher costs as opposed to the things that are at a comparatively lower risk.
Now that we know what a P&C insurance company is and we have already discussed how they make profits. Let us ponder on the strategies adopted by these companies that make them profitable. Apart from those policies […]
Surplus and reserves are integral for any insurance company to run smoothly. There are plenty of ways in which an insurance company makes profits. Of which, premiums and investment are largely the biggest contributors. This is what makes them profitable in the long run and their business sustainable. In the following paragraphs, we will discuss the difference between a Casualty and non-Casualty insurance company, what is surplus and reserves and how do casualty companies calculate these measures?
What is a Casualty Company?
The present insurance industry is said to be divided into 2 major […]