Insurance

Question 1

Covers commercial vehicles that you own and operate.

Answer 1

Automobile Insurance

Question 2

Protects if someone gets hurt while using your product or service, or if while someone is injured on your property.

Answer 2

General Liability and Property Coverage

Question 3

Provides additional liability coverage on top of an underlying policy.

Answer 3

Umbrella Policy

Question 4

Protects against circumstances where the owner faces professional liability claims.

Answer 4

Professional Liability

Question 5

Protects in case of death of the owners or operators of the business.

Answer 5

Life Insurance

Question 6

Pays employee’s medical expenses and provides some income replacement when a worker is injured on the job.

Answer 6

Workers’ Compensation

Question 7

Protects the insured from losses caused by any peril that is not specifically excluded by the policy.

Answer 7

All Risk Policy

Question 8

Covers owner when unable to run business due to a covered peril.

Answer 8

Business Interruption

Question 9

Combines property, liability, and business interruption coverage for small to medium-sized businesses. Generally cheaper.

Answer 9

Business Owners Policy

Question 10

Requires companies with 20 or more employees to offer separating employees the option to continue their group health-care coverage to their own expense.

Answer 10

COBRA Benefits

Question 11

Type of business interruption endorsement that protects policy owner from financial losses caused by problems somewhere other than the owner’s business.

Answer 11

Dependent Property

Question 12

Compensates for the inability to collect income and for the cost of reproducing business records.

Answer 12

Destroyed or Damaged Records

Question 13

Additional earthquake coverage to standard commercial property.

Answer 13

Earthquake Coverage

Question 14

Helps defend against employment-related claims such as sexual harassment, age discrimination, or wrongful termination.

Answer 14

Employment Practices

Question 15

Applies to businesses that rely on a number of vehicles and need to insure them collectively.

Answer 15

Fleet Coverage

Question 16

Coverage for damage caused by floods that is not included in ordinary homeowners and commercial policies.

Answer 16

Flood

Question 17

Special glass-breakage coverage for operations that bear a special risk.

Answer 17

Glass

Question 18

Covers business liability exposure arising out of defects in the company’s products or completed operations.

Answer 18

Products and Completed Operations

Question 19

Provides dental coverage but does not include any other coverage.

Answer 19

Stand-Alone Dental

Question 20

Provides life insurance but does not include any other coverage.

Answer 20

Stand-Alone Life

Question 21

Provides prescription-drug coverage but does not include any other coverage.

Answer 21

Stand-Alone Prescription

Question 22

Coverage that addresses the impact of weather on businesses.

Answer 22

Weather Coverage

Question 23

Protects the insured from medical expenses arising from sickness or accidental injury.

Answer 23

Health Insurance

Question 24

Allows policy owner to visit any physician within the contacted network without prior approval or referrals.

Answer 24

Exclusive Provider Organization (EPO)

Question 25

uses a primary care physician as a gatekeeper to screen patients and see that appropriate treatment takes place at the lowest level possible.

Answer 25

Health Maintenance Organization (HMO)

Question 26

Referred to as “fee-for-service.” Allows absolute freedom in selecting physicians or medical facilities and permit self-referral to a specialist.

Answer 26

Indemnity

Question 27

Allows subscribers to select health-care providers and health-care facilities from a preferred-provider list and permits self-referral.

Answer 27

Preferred Provider Organization (PPO)

Question 28

Coverage that provides income for an individual who cannot work because of an illness, disease, or non-occupational injury. Employees bear the full cost.

Answer 28

Long-Term Disability (LTD)

Question 29

covers only inpatient care, not other services. May be limited to an approved or network facility.

Answer 29

Basic Hospital