Okuzeka
Insurance vocabulary · Insurance Market & Finance

P&C

Meaning in insurance, with examples

abbreviationCommon term

In insurance, P&C means: Property and casualty: the US term for insurance that protects property and covers legal liability, such as car, home and business insurance.

In Turkish: mal ve sorumluluk sigortaları, hayat dışı sigorta

How it is used

Used in US industry news, job titles and reports: P&C insurer, P&C underwriter, P&C market. 'Casualty' here means liability insurance, not an injured person. British and European speakers say 'general insurance' or 'non-life'.

Example sentences

  1. She has ten years' experience as a P&C underwriter in New York.

  2. P&C insurers reported higher profits as car repair costs eased.

Common collocations

  • P&C insurer
  • P&C market
  • P&C underwriter
  • P&C lines
  • non-life insuranceAll types of insurance other than life insurance, such as motor, property, liability, health and travel insurance.
  • property insuranceInsurance that covers buildings, equipment, stock and other physical assets against damage or loss from events such as fire, flood, storm and theft.
  • liability insuranceInsurance that pays for injury or damage you are legally responsible for causing to other people, including the legal costs.
  • combined ratioThe loss ratio plus the expense ratio. Below 100 percent means the insurer made an underwriting profit; above 100 percent means an underwriting loss.

More terms: Insurance Market & Finance

Practise with graded reading

Reading at the right level is the fastest way to make new words stick. Pick free English books by level:

This page explains English vocabulary for learners. It is not financial advice.