A general category applied to insurers; for example, Homeowners, Health or Life.
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A general classification of insurance industry business—for example, fire, life, health, liability.
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REINSURANCE: The general classification of business designated by the National Association of Insurance Commissioners (NAIC) utilized in the insurance industry to identify the major segments of policies that are sold to the general public, i.e., fire, allied lines, homeowners, other liability, products liability, auto liability, etc. These are often referenced in the “Business Covered” article of reinsurance treaty contracts to designate the classes of business covered by the treaty. Many of these general classifications have one or more sub-classifications.
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The general classifications of business as utilized in the insurance industry, e.g., Fire, Allied Lines and Householders.