Insurance for Business 1
The probability, amount or type of possible loss incurred and covered by an insurer
What is Risk
Risks in which there is only a chance of loss and no chance of a gain
What is Pure Risk
What is Property Insurance
Most popular form of coverage
What is Group Health Insurance
Provides financial protection for a company's vehicles and drivers
What is Vehicle Coverage
What is Risk
What is Speculative Risk
Compensates a business for the loss of income during the time which repairs are being made to the damaged property.
What is Business Interruption Insurance
COBRA is an acronym
What is Consolidated Omnibus Budget Reconciliation Act of 1986
Insurance which covers physical injuries of other people caused by an automobile accident.
What is Bodily Injury Liability
Anything which may cause loss
What is Peril
These risks are insurable
What is Pure Risk
Protects a business against damages for which it may be held legally responsible.
What is Liability Insurance
Protects against the loss of insurance due solely to being unemployed
What is COBRA
Covers theft, vandalism, weather, fire, and other perils
What is Comprehensive Insurance
Anything which increases the likelihood of loss through some peril
What is Hazard
These risks are not insurable
What is Speculative Risk
Liability insurance has how many types
What is three
Does not cover any property damage or bodily injury
What is Director & Officer Coverage
Workers' Compensation
What is covers workers who are injured or become ill due to workplace conditions
The failure to take ordinary or reasonable care to prevent accidents
What is Negligence
These risks are impossible to predict
What is Pure Risk
Protects businesses from losses on credit extended to customers
What is Credit Insurance
Group Health Insurance can be offered through companies with a minimum of how many employees
What is ten
This covers you if you lose your job due to no fault of your own
What is Unemployment Insurance