Insurance

Question 1

insurance on building

Answer 1

insurance on building refers to any structural damage that occurs to the businesses building. damage as a result of fire, natural disasters, explosions.

Question 2

business interruption insurance

Answer 2

this insurance helps the business to get back on its feet. it helps the business pay overheads, also rent during a time of downtime. can also cover if theres anything preventing consumers to get to the market place.

Question 3

insurance on vehicle

Answer 3

this insurance refers to vehicles that belong to the business only. but can also be fully comprehensive this insurance may only cover the third party. the business car will not be repaired if damaged in an accident but only the third party car will be repaired

Question 4

fidelity insurance

Answer 4

this insurance only covers the business if employees steal from the business

Question 5

public liability insurance

Answer 5

this insurance covers the business in case any incident happens on the premises of the business. this insurance covers the visitor or the customer in case their property is damaged while on the business premises

Question 6

theft, burglary and robbery insurance

Answer 6

important for business to keep accuracte stock records, in case of theft the insurer will know how much stock was stolen. much easier if the business has an EPOSSE.
this insurance covers the business when theft has occured.

Question 7

EPOSSE

Electronic point of salesscanning equipment.

Question 8

bad debts

Answer 8

often classified as a non-insurable risk.

v expensive this one

Question 9

insurance

Answer 9

is a means of protection from financial loss