Provision against loss to persons and property, covering legal hazards as well as those of accident and sickness.
Major classes include liability , theft, aviation, workers' compensation , credit , and title. Liability insurance contracts may cover liability arising from use of an automobile, operation of a business, professional negligence ( malpractice insurance), or property ownership. Credit insurance may cover the risk of bad debts from insolvency, death, and disability, the risk of loss of savings from bank failure, and the risk of loss of export credit due to commercial or political changes.