Insurance type

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In individual insurance, the type of insurance describes the integration of an insurance contract according to the type of risk insured. Types of insurance are grouped into insurance branches or insurance branches and further into insurance branch groups . Within the insurance types , insurers often offer various types of insurance contracts, which they refer to as products . However, insurance contracts can also belong to several types of insurance if different risks are covered within one contract .

These classifications of the insurance contracts are prescribed by law in some states and the insurers must report on their business accordingly. In addition, there are also purely scientifically developed classifications of insurance contracts, which are also referred to as types and branches of insurance.

A possible breakdown of different insurances into insurance branches or classes and further into types of insurance is:

See also