Match the term with its definition.
-Coverage that reimburses a business for the loss of anticipated income following the interruption of business operations
A)business interruption insurance
B)funds transfer fraud
C)indemnification clause
D)key-person life insurance
E)personnel risks
F)reasonable (prudent person) standard
G)torts
H)workers' compensation insurance
I)workers' compensation legislation

Question

Quizplus · Accepted Answer

Business interruption insurance provides coverage for loss of anticipated income due to interruptions in business operations.

Answer: B
 Funds transfer fraud is a type of cyber crime in which criminals gain access to a business's banking information and fraudulently transfer money out of the account.

Answer: C
 An indemnification clause is a contractual provision in which one party agrees to compensate the other for certain losses or damages.

Answer: D
 Key-person life insurance is a type of insurance that provides coverage in the event that a key employee or business owner dies or becomes incapacitated.

Answer: E
 Personnel risks refer to risks associated with employees, such as theft, fraud, and liability for workplace injuries.

Answer: F
 The reasonable (prudent person) standard is a legal standard used to determine whether a person or entity acted with the level of care and diligence that a reasonable person would exercise under similar circumstances.

Answer: G
 Torts are civil wrongs or injuries that are committed by one party against another, resulting in liability for the party that committed the wrong.

Answer: H
 Workers' compensation insurance provides coverage for employees who are injured or become ill as a result of their job.

Answer: I
 Workers' compensation legislation is a set of laws that require employers to provide workers' compensation insurance to their employees, and that establish guidelines for the types of injuries and illnesses that are covered.

Match the Term with Its Definition