Commercial Lines

Definition - What does Commercial Lines mean?

Commercial lines are insurance products crafted for businesses as opposed to individuals or personal lines, which are meant for individuals. Accounting for about 50% of the property and casualty insurance market, they help ensure the world economy functions properly by offering coverage against losses a business could not recover from on its own, including accidents, natural disasters, lawsuits, and so on.

Insuranceopedia explains Commercial Lines

Commercial lines include commercial liability and property, workers' compensation, aircraft, medical malpractice, travel, maritime, and umbrella policies, among others. The particulars of each policy depend on the business location, size, and type.

Although commercial lines obviously are indispensable to large businesses for obvious reasons, even small businesses may benefit from them. A home business, for instance, may not find protection in homeowners insurance against risks associated with business activities.

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