Term
| Business interruption insurance |
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Definition
| Insurance that makes up for lost income if a business is shut down for repairs or rebuilding. |
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Term
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Definition
| The possibility of business failure or loss. |
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Term
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Definition
| Protects a business from lawsuits. It pays a claim if a person is injured on your business premises or if a worker causes damage. |
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Term
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Definition
| Risks that result from changes in overall business conditions. |
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Term
| Errors-and-omissions insurance |
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Definition
| Protects manufacturers from claims for injuries that result from using their products. |
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Term
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Definition
| Protect companies from employee theft. |
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Term
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Definition
| Risks caused by human errors as well as the unpredictability of customers, employees, or the work environment. |
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Term
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Definition
| Pays a business in the event of the insured person’s death. |
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Term
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Definition
| Risks resulting from natural causes. |
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Term
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Definition
| Protect a business if work is not finished on time or as agreed. |
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Term
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Definition
| Any property that is unattached. Personal property includes items such as clothing, furniture, jewelry, and automobiles. |
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Term
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Definition
| Covers the loss of physical property. |
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Term
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Definition
| The possibility of loss to a business without any possibility of gain. |
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Term
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Definition
| Buildings, land, and fixtures. |
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Term
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Definition
| The possibility of a financial loss. |
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Term
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Definition
| The process of managing a business’s exposure to risk in order to achieve business objectives. |
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Term
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Definition
| Self-insurance against business loss. |
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Term
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Definition
| The taking of property by violence or threat. |
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Term
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Definition
| A form of external theft that involves taking items from a business without paying for them. |
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Term
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Definition
| Risking loss to make a profit with the possibilities of loss, no change, or gain. |
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Term
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Definition
| A government-regulated program that provides medical benefits and income to employees who are injured on the job. |
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