C.24 Business owner insurance solutions Flashcards
(20 cards)
Which of the following is a type of business owner insurance that provides protection against lawsuits and claims made against the business?
A) Business interruption insurance
B) Key person insurance
C) Liability insurance
D) Buy-sell agreement insurance
Liability insurance. Liability insurance is a type of business owner insurance that provides protection against lawsuits and claims made against the business.
Which of the following is a type of business owner insurance that provides coverage for property damage or loss caused by events such as fire, theft, or natural disasters?
A) Business interruption insurance
B) Property insurance
C) Liability insurance
D) Buy-sell agreement insurance
Property insurance. Property insurance is a type of business owner insurance that provides coverage for property damage or loss caused by events such as fire, theft, or natural disasters.
Which of the following is a type of business owner insurance that provides coverage for lost income and operating expenses when a business is unable to operate due to a covered event?
A) Business interruption insurance
B) Key person insurance
C) Liability insurance
D) Buy-sell agreement insurance
Business interruption insurance. Business interruption insurance provides coverage for lost income and operating expenses when a business is unable to operate due to a covered event.
Which of the following is a type of business owner insurance that provides protection for a business in the event of the death or disability of a key employee?
A) Business interruption insurance
B) Key person insurance
C) Liability insurance
D) Buy-sell agreement insurance
Key person insurance. Key person insurance provides protection for a business in the event of the death or disability of a key employee.
Which of the following is a type of business owner insurance that provides protection for a business in the event of the death or disability of a business owner?
A) Business interruption insurance
B) Key person insurance
C) Liability insurance
D) Buy-sell agreement insurance
Buy-sell agreement insurance. Buy-sell agreement insurance provides protection for a business in the event of the death or disability of a business owner.
Which of the following is a type of business owner insurance that provides coverage for medical expenses and lost wages for employees who are injured on the job?
A) Business interruption insurance
B) Property insurance
C) Workers’ compensation insurance
D) Buy-sell agreement insurance
Workers’ compensation insurance. Workers’ compensation insurance provides coverage for medical expenses and lost wages for employees who are injured on the job.
Which of the following is a type of business owner insurance that provides coverage for expenses related to data breaches and cyber attacks?
A) Business interruption insurance
B) Cyber liability insurance
C) Liability insurance
D) Buy-sell agreement insurance
Cyber liability insurance. Cyber liability insurance provides coverage for expenses related to data breaches and cyber attacks.
Which of the following is a type of business owner insurance that provides protection against claims of errors or omissions made by a business or its employees?
A) Professional liability insurance
B) Property insurance
C) Liability insurance
D) Buy-sell agreement insurance
Professional liability insurance. Professional liability insurance provides protection against claims of errors or omissions made by a business or its employees.
Which of the following is a type of business owner insurance that provides protection for a business in the event of a lawsuit or claim made against it?
A) Business interruption insurance
B) Property insurance
C) Liability insurance
D) Buy-sell agreement insurance
Liability insurance. Liability insurance provides protection for a business in the event of a lawsuit or claim made against it.
Which of the following is a type of business owner insurance that provides coverage for losses resulting from employee dishonesty or theft?
A) Fidelity bonds
B) Property insurance
C) Liability insurance
D) Buy-sell agreement insurance
Fidelity bonds. Fidelity bonds provide coverage for losses resulting from employee dishonesty or theft.
Which of the following is a type of business owner insurance that provides coverage for losses resulting from the interruption of business due to an event beyond the business’s control?
A) Business interruption insurance
B) Property insurance
C) Liability insurance
D) Buy-sell agreement insurance
Business interruption insurance. Business interruption insurance provides coverage for losses resulting from the interruption of business due to an event beyond the business’s control.
Which of the following is a type of business owner insurance that provides protection for a business in the event of the death of a co-owner?
A) Business interruption insurance
B) Key person insurance
C) Liability insurance
D) Buy-sell agreement insurance
Buy-sell agreement insurance. Buy-sell agreement insurance provides protection for a business in the event of the death of a co-owner.
Which of the following is a type of business owner insurance that provides coverage for losses resulting from a breach of contract?
A) Fidelity bonds
B) Property insurance
C) Liability insurance
D) Errors and omissions insurance
Errors and omissions insurance. Errors and omissions insurance provides coverage for losses resulting from a breach of contract.
Which of the following is a type of business owner insurance that provides protection for a business in the event of a data breach or cyber attack that results in the loss of sensitive data?
A) Cyber liability insurance
B) Fidelity bonds
C) Liability insurance
D) Key person insurance
Cyber liability insurance. Cyber liability insurance provides protection for a business in the event of a data breach or cyber attack that results in the loss of sensitive data.
Which of the following is a type of business owner insurance that provides coverage for losses resulting from employee injury or illness that is not covered by workers’ compensation insurance?
A) Disability insurance
B) Property insurance
C) Liability insurance
D) Business overhead expense insurance
Disability insurance. Disability insurance provides coverage for losses resulting from employee injury or illness that is not covered by workers’ compensation insurance.
John owns a small business with several employees. One of his employees was injured on the job and is unable to work for several months. Which of the following types of insurance would provide coverage for the employee’s lost wages during this time?
A) Business overhead expense insurance
B) Workers’ compensation insurance
C) Disability insurance
D) Cyber liability insurance
Workers’ compensation insurance. Workers’ compensation insurance provides coverage for an employee’s lost wages due to a work-related injury or illness.
Sarah and Tom are co-owners of a small business. If Sarah were to pass away, Tom wants to ensure that he can buy out Sarah’s share of the business without incurring significant debt. Which of the following types of insurance would provide this protection?
A) Disability insurance
B) Key person insurance
C) Buy-sell agreement insurance
D) Fidelity bonds
Buy-sell agreement insurance. Buy-sell agreement insurance provides protection for a business in the event of the death of a co-owner.
Lisa owns a small business and is concerned about the risk of a data breach or cyber attack. She wants to ensure that her business is protected if such an event were to occur. Which of the following types of insurance would provide this protection?
A) Fidelity bonds
B) Liability insurance
C) Cyber liability insurance
D) Property insurance
Cyber liability insurance. Cyber liability insurance provides protection for a business in the event of a data breach or cyber attack that results in the loss of sensitive data.
David owns a construction company and is worried about the risk of a lawsuit if one of his employees were to cause property damage or bodily injury while on the job. Which of the following types of insurance would provide this protection?
A) Business overhead expense insurance
B) Liability insurance
C) Disability insurance
D) Workers’ compensation insurance
Liability insurance. Liability insurance provides coverage for losses resulting from property damage or bodily injury caused by a business or its employees.
James owns a small business and is concerned about the risk of a fire or other damage to his property. Which of the following types of insurance would provide coverage for this risk?
A) Workers’ compensation insurance
B) Disability insurance
C) Property insurance
D) Cyber liability insurance
Property insurance. Property insurance provides coverage for losses resulting from damage to a business’s property.
