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Casualty insurance insures in opposition to accidents, not necessarily tied to any particular property. It is a broad spectrum of insurance that numerous other forms of insurance could possibly be categorised, similar to auto, employees compensation, and a few legal responsibility insurances. Indemnity – the insurance company indemnifies or compensates the insured within the case of certain losses only as much as the insured's interest. By the late 19th century governments started to initiate nationwide insurance programs against sickness and old age. Germany constructed on a tradition of welfare programs in Prussia and Saxony that started as early as in the 1840s. In the Eighties Chancellor Otto von Bismarck launched old age pensions, accident insurance and medical care that shaped the premise for Germany's welfare state.

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