Here, property, which has intrinsic value of its own is insured against loss or damage by various perils such as Fire, burglary, accidents, etc.Insurance of Liability : Legal liability to third parties, legal liability to employees etc. Insurance provides protection against financial loss caused by incurring legal liability through negligence or by reasons of statutory law.Insurance of Persons : Personal accident, Mediclaim, Bhavishya Arogya and like Insurances. Here, Insurance provides for payment of fixed benefits in the event of death, disablement or disease of the insured due to an accident or disablement due to illness.Insurance of Pecuniary Losses : Loss of Profit Policies, and Fidelity Guarantee policies. Loss of profit policies provide protection against certain consequential losses that result from material damage. Fidelity guarantee polices pay for financial losses suffered by the insured due to acts of dishonesty of his employees.Combination Insurance Policies covering more than one subject matter: Some policies are combination of property Insurance, liability Insurance, Insurance of persons and also covering pecuniary losses. For example, Shopkeepers’ Insurance, Householders’ Insurance etc.Insurance Hall of Fame : An institution created to honor those who have made outstanding contributions to insurance through and practice. Selections are made on an international basis.