Solved

Match the Term with Its Definition

Question 85

Matching

Match the term with its definition. Some terms may not be used.

Premises:

Responses:

Coverage for general liability loss exposure

Business owner's policy

The criminal transfer of funds from a bank account

Proximate cause

The typical standard of care, based on what a reasonable or prudent person would have done under similar circumstances

Disability insurance

Coverage that provides benefits to a firm upon the death of key personnel

Package policy

Coverage that reimburses a business for the loss of anticipated income following the interruption of business operations

Commercial general liability insurance

Risks that directly affect individual employees but may have an indirect impact on a business as well

Funds transfer fraud

A policy for small businesses that do not qualify for a BOP that combines property insurance, commercial general lability insurance, and crime insurance

Personnel risks

A negligent act that is the clear cause of damages sustained

Workers' compensation insurance

Coverage that provides benefits to employees injured at work

Business interruption insurance

A business version of a homeowner's policy designed to meet the property and general liability insurance needs of some small business owners

Reasonable standard

Key-person life insurance