What term describes insurance designated for businesses, institutions, or organizations?

The term that describes insurance designated specifically for businesses, institutions, or organizations is "commercial lines." This type of insurance includes various coverages tailored to meet the unique needs of businesses, such as property, liability, workers' compensation, and business interruption insurance. Commercial lines policies are essential for protecting the assets and operations of business entities against various risks they face in their industry.

The distinction between commercial and personal lines is significant; while personal lines refer to insurance products designed for individuals and their families, such as homeowners or auto insurance, commercial lines focus on the complex needs of businesses, often requiring specialized coverage options and higher policy limits.

Specialty lines typically refer to niche insurance products that cover unique or high-risk sectors, which may not encompass the broad scope of services offered by commercial lines. Individual lines is not a recognized term in the insurance industry and does not accurately describe the category of insurance being referred to in this question.