C.24 Business owner insurance solutions Flashcards

A life or disability insurance policy purchased by a business to compensate for financial losses due to the death or disability of a key employee.

A legal agreement outlining the transfer of business ownership in the event of a partner’s death, disability, or retirement, often funded by life insurance.

A policy that covers fixed business expenses, such as rent and salaries, if the owner becomes disabled and cannot work.

A policy that protects businesses from financial loss due to claims of bodily injury, property damage, or personal injury caused by business operations.

A form of professional liability insurance that covers businesses against claims of negligence or inadequate work.

A policy that provides wage replacement and medical benefits to employees injured on the job, in exchange for relinquishing the right to sue the employer.

A policy that provides financial compensation for lost income and expenses if business operations are disrupted due to a covered event.

A policy that protects a business’s physical assets, such as buildings and equipment, from risks like fire, theft, or natural disasters.

A supplemental policy that extends coverage beyond the limits of a business’s general liability or auto insurance policies.

A policy that protects businesses against financial losses resulting from data breaches, cyberattacks, or other technology-related risks.