[G044]

group property and liability insurance

Group insurance programs designed to offer affordable property and liability insurance, most often automobile or homeowners coverages to a natural group such as employees of an employer or members of an association. This is usually an optional benefit that the group member may purchase and is not subsidized by the employer or group. The cost to the member, however, is usually less than what is otherwise available because of lower marketing, sales and administrative expenses saved by the insurer.