Casualty Insurance is best described as specialty insurance and can be defined by risks that are not included in other lines of business. Casualty is mainly about bodily injuries and therefore will cover personal accidents and workmen compensation. Major part of casualty is liabilities toward third parties arising from bodily injury and property damage arising from insured activities.

This includes third party liability, product liability, employer’s liability, professional indemnity and medical malpractice risks that do not fall under conventional insurances of health, life and property will be covered under casualty such as fidelity guarantee, money insurance, banker’s blanket bond and others. New emerging risks are part of casualty business such as cyber risks, director’s and officer’s liability and trade credit insurance.