What is General (Non-Life) Insurance?

What is General (Non-Life) Insurance?

In this video, Ted discusses the various forms of general insurance and explores the concept of IBNR – Incurred but Not Reported – this refers to the statistical calculation of claims relating to events that have occurred but have not yet come to light.
Overview

General insurance refers to all insurance that is not related to life (or death) of an individual. There are many different categories of general insurance including property, marine & cargo, medical, motor and aviation.

Key learning objectives:

  • What are the various categories of general insurance?

  • What is the difference between short and long-tail business?

  • What is IBNR?

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Summary
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Expert
Ted Wainman

Ted Wainman

Ted Wainman trained and qualified as an Associate Chartered Accountant (ACA) with Ernst & Young before joining JPMorgan on the Investment Management side of the business. He since has over 17 years of experience in designing, developing and delivering financial & business skills training workshops for over 275 clients in more than 35 countries.

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