What is casualty insurance also commonly referred to as?

Casualty insurance is commonly referred to as liability insurance because it primarily provides coverage for individuals and businesses against legal liabilities that may arise from injuries to other people or damage to their property. This type of insurance helps protect against the financial consequences associated with lawsuits and claims made by third parties.

The key aspect of casualty insurance is its focus on covering losses that result from accidents, negligence, or other unforeseen events that could lead to a legal obligation to compensate another party. This term encompasses various types of insurance products, including auto insurance, general liability insurance, and workers' compensation.

While personal liability insurance is a specific type of liability insurance that protects individuals from claims made against them for bodily injury or property damage, the broader term of liability insurance encompasses a wider range of coverages. Therefore, referring to casualty insurance as liability insurance aligns with its primary function of addressing legal responsibilities rather than just personal or property insurance aspects. Furthermore, the other terms provided in the choices do not capture the comprehensive nature of casualty insurance as effectively as liability insurance does.