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Casualty insurance insures towards accidents, not necessarily tied to any particular property. It is a broad spectrum of insurance that numerous different types of insurance could be categorized, corresponding to auto, employees compensation, and a few legal responsibility insurances. Indemnity – the insurance firm indemnifies or greekfoot.com compensates the insured in the case of sure losses only up to the insured's curiosity. By the late nineteenth century governments started to initiate national insurance packages in opposition to sickness and old age. Germany constructed on a tradition of welfare packages in Prussia and Saxony that began as early as within the 1840s. In the Eighteen Eighties Chancellor Otto von Bismarck introduced old age pensions, accident insurance and medical care that fashioned the idea for Germany's welfare state.
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