Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance or boiler insurance. Property is insured in two main ways - open perils and named perils. Open perils cover all the causes of loss not specifically excluded in the policy. Common exclusions on open peril policies include damage resulting from earthquakes, floods, nuclear incidents, acts of terrorism and war. Named perils require the actual cause of loss to be listed in the policy for insurance to be provided. The more common named perils include such damage-causing events as fire, lightning, explosion and theft.
Property and Casualty insurance segment a fair degree of consolidation is occurring. The dominant position of large market leaders, the effects of burgeoning technology and a robust, competitive pricing environment will cause dozens of insurers to exit the personal property and casualty insurance industry over the next few years, according to a new study by Conning Research and Consulting.However inspite of this,despite steady rate reductions in many insurance segments in the past two years, market conditions remain supportive of underwriting profitability for stronger underwriters in the near term.As evidenced by January 2006 insurance renewal results.

Property & Casualty offers insurance services like commercial property insurance, cargo insurance, motor vehicle insurance, accidental injury insurance, short term health insurance, hull insurance, homeowners insurance, liability insurance, surety insurance and agriculture insurance. All insurance products are denominated in RMB and also in foreign currencies. Reinsurance of above insurance products are done. All investment and fund application businesses are done in accordance with People's Republic of China laws. Property & Casualty has high brand recognition.It has a market share of 45.1 percent . Client satisfaction is met by comprehensive technical expertise in information platform including product development and claims management. Customer retention is done by an electronic commerce platform set up by this company.

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