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Casualty insurance insures towards accidents, not essentially tied to any particular property. It is a broad spectrum of insurance that a number of other types of insurance could be categorised, similar to auto, workers compensation, and some liability insurances. Indemnity – the insurance firm indemnifies or compensates the insured within the case of sure losses solely up to the insured's curiosity. By the late 19th century governments started to initiate national insurance applications in opposition to sickness and old age. Germany built 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 introduced old age pensions, accident insurance and iafmec.org medical care that shaped the basis for Germany's welfare state.
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