General insurance, also known as non-life insurance, is a type of insurance that provides coverage for losses and damages to property, vehicles, health, travel, and other assets. It is typically defined as any insurance that is not determined to be life insurance. General insurance policies provide payments depending on the loss from a particular financial event.
Some of the top features of general insurance include peace of mind and financial stability. Policyholders can have peace of mind knowing they are covered against various uncertainties of life. A general insurance policy can provide great financial stability to a policyholder and their family.
In accordance with Sections 18 & 19 of the Insurance Act 1995, an insurer is required to submit information and relevant documents to the Office of Insurance Commissioner: