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13 Cards in this Set
- Front
- Back
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Theft Insurance |
Theft of equipment and stock. |
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Fire insurance |
Damage to premises, equipment and stock. |
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Sprinkler leakage |
Water damage to stock. |
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Consequential loss |
Loss of income resulting from fire, smoke etc. |
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Fidelity guarantee |
Theft by employees. |
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Cash in transit |
Theft of money being transferred to bank. |
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Goods in transit |
Damage or theft of goods being transported. |
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Motor insurance |
Damage or injury caused by motor vehicles. |
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Employer's liability |
Employees injured at work. |
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Public liability |
Customers injured while visiting the business. |
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Product liability |
Injury to customers using the product. |
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Bad debts |
Loss due to customers not paying their debts. |
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Why is it important for a business to purchase adequate insurance? |
It is important to make sure that all possible risks are insured against for the correct value because failure to do so could mean that certain risks are not covered or are underinsured. |
