General Account is an account in which all debits and credits are maintained. However, specific accounts are also maintained for specific pursposes.
For example, all premiums are paid into an insurer's general account. Thus, buyers are subject to credit-risk exposure to the insurance company, which is low but not zero.
For example, all premiums are paid into an insurer's general account. Thus, buyers are subject to credit-risk exposure to the insurance company, which is low but not zero.