This risk relates to harm or injury to people or their property because of your actions.
What is liability risk?
100
This risk presents the chance of loss but no opportunity for gain. Such as severe weather.
What is pure risk?
100
What provides planned protection against economic losses
What is insurance companies?
100
This type of insurance provides protection to health. This can cover employees and usually their families as well.
What is health insurance?
100
This is the exclusive right of an inventor to make, sell, and use a product or process.
What is patent?
200
This risk deals with health and personal well being.
What is personal risk?
200
This risk allows you to reduce or eliminate by actions you take like installing a security system.
What is controllable risk?
200
This is a written contract between the insurer and the insured that states the conditions to which the insurance company and the policyholder have agreed.
What is insurance policy?
200
This type of insurance provides payments to employees who are not able to work for an extended period of time due to serious illness or injury.
What is disability insurance?
200
This is the distinctive name, symbol, word, picture, or combination of these that a company uses to identify their products or services.
What is trademark?
300
This risk deals with loss of personal or business property.
What is property risk?
300
This risk exchanges the uncertainty of a possible large financial loss or a certain smaller payment
What is insurable risk?
300
This is the person (insured) that buys the insurance policy.
What is policy holder?
300
This type of insurance covers property losses resulting from fire, storms, accidents, theft, and vandalism. some may offer flood and earthquake damage.
What is commercial property insurance?
300
These are the exclusive rights to possess and use property and its profits. This excludes everyone else from interfering with the use of this item.
What is property rights?
400
This risk may result in inconvenience or embarrassment but does not have a financial impact.
What is non-economic risk?
400
This risk cannot be reduced by your actions such as a hail storm.
What is uncontrollable risk?
400
This is the amount the policy holder pays for the insurance coverage, which can be paid monthly, quarterly, every 6 months, or annually.
What is premium?
400
This is a system of insurance set up by state law that pays employees who are injured on the job.
What is workers compensation?
400
This protects the original work of authors, composers, playwrights, artists and publishers.
What is copyright?
500
This risk offers the chance to either gain or lose, such as investing in a new business.
What is speculative risk?
500
This risk is not common or can be close to impossible to predict the amount of loss that could be suffered.
What is uninsurable risk?
500
This is the policyholder's/insured's request for payment for a loss that the insurance policy covers
What is claim?
500
This insurance provides compensation for ongoing business expenses that occur if a business has a temporary shut down due to a fire, flood, or other major issue.
What is business interruption insurance?
500
This is the illegal uses of intellectual property, patents, trademarks, and copyrights.