Answer: Business interruption insurance.
because, business interruption insurance is the policy that insure the business loss during any natural disaster. Therefore business should have business interruption insurance to account for losses due to business closure during a hurricane.
Whereas,
Worker compensation insurance is the policy that safeguard employee or workers, wage and medical benefits during any injuries at the workplaces.
Key person insurance is the policy that insure the organization negatives impacts and loss during key person/executives like CEO deaths.
Professional malpractice insurance is the insurance that protect the professional workers like doctors and lawyers upon any complaints on them regarding harming and negligence in the working area.
What type of insurance should a small business obtain to account for losses due to business...
91. What is the primary value of insurance to business enterprise? It removes all tort and contract liability risk. It provides a means to shift risk away from the business to an insurer. It shields directors and officers from personal liability. d. It imposes a duty of utmost good faith on the business enterprise. 92. Under which level of government jurisdiction do insurance policies fall? a. provincial jurisdiction b. federal jurisdiction c. executive jurisdiction d. municipal jurisdiction...
Question 1 (5 points) ✓ Saved Insurance that adds an extra layer of protection for liabilities not covered by your other policies is known as umbrella coverage. O multilayered coverage. O optional sources. variable protection.Question 2 (5 points) Saved Juan has a retail business selling skateboard supplies. He maintains large stockpiles of every item he sells in a warehouse on the outskirts of town. He keeps finding that he has to reorder certain supplies all the time but others only...
please answer all questions or don't answer (T/F__T___8) A small business owner should avoid borrowing money when he/she sees a downturn in business or to refinance existing debt. _____9) Commercial banks are lenders of last resort for small businesses. _____10) A business owner does not pay interest on a floor-planned item in inventory until it is sold. _____11) Even companies whose financial statements are too weak to produce other types of loans can get asset-based loans. _____12) Trade credit, while...
Carl applies for fire insurance for his house. Before the application is processed, Carl’s house burns down. Carl will have coverage if the insurance company Doesn’t find out about the fire until after the policy issues Chooses to accept the application Issued a binder Makes coverage retroactive Lucia had a homeowner’s insurance policy on her house. While she was away on vacation, her porch was burned to the ground. After the fire, her house was burglarized and goods worth thousands...
The use of internal controls provides guaranteed protection against losses due to operating activities. * 2 points O True False 2 points Factors that cause the bank statement balance of a chequing account to be different from the business chequing account balance include: outstanding cheques, deposits in transit, deductions for bank fees, additions for interest, and errors. * True O False TechCom customer RDA Electronics paid off an $8,300 balance on its account receivable. TechCom should record the transaction as...
What types Of marketing messages should each of the three life
insurance companies design to reach consurners such as John and
Sandy. for either the information search. evaluation of
alternatives. or both Stages Of the buying decision marking
process?
ohn Mulvaney just reached an important milestone in his life-birth of his first child. After seven years as a DINK (dual income-no kids) family, he and his wife Sandy decided it was time add a new member. At that point the...
Shield Inc. is a new small business begun o a leading provider of IT services an s a new small business begun on September 1, 2019, by Tony Stark. The company is ng provider of IT services and communication technology. The following is a selected list ransactions that occurred during the month of September 2019: tember 1: Tony deposited $10,000 in a bank account in the name of Shield Inc. All we company's common shares were issued to him. He...
Shield Inc. is a new small business begun o a leading provider of IT services an s a new small business begun on September 1, 2019, by Tony Stark. The company is ng provider of IT services and communication technology. The following is a selected list ransactions that occurred during the month of September 2019: tember 1: Tony deposited $10,000 in a bank account in the name of Shield Inc. All we company's common shares were issued to him. He...
Assume you are asked as part of an audit of GE's insurance
business to assess fraud risk, ehat would you include in your
report and why?
Required information [The following information applies to the questions displayed below.) On January 30, 2018, General Electric (GE) announced that it was taking an after-tax charge of $6.2 billion in the December 31, 2017 financial statements and additional cash funding of $15 billion in statutory capital contributions to its insurance subsidiary. GE acknowledged a...
Question 1 BWS Corporation pays the premiums on an $80,000 group-term life insurance policy on the life of its 45-year-old vice-president, Warren. The annual cost per $1,000 of coverage for a person aged 45 to 49 is $1.80. If Warren has paid $25 toward the cost of the insurance, what is the cost of hte policy includible in Warren's gross income? 1) $278.00 2) $144.00 3) $54.00 4) $29.00 5) $0 Question 2 During 2019, Edward East had wages of...