Business Insurance

Insurance coverage that protects businesses from losses due to events that may occur during the normal course of business. There are many types of insurance for businesses including coverage for property damage, legal liability and employee-related risks. Companies evaluate their insurance needs based on potential risks, which can vary depending on the type of environment in which the company operates.

It is especially important for small business owners to carefully consider and evaluate their business insurance needs because they may have more personal financial exposure in the event of loss. If a business owner does not feel he or she has the ability to effectively asses business risk and the need for coverage, he or she should work with a reputable, experienced and licensed insurance broker. You can obtain a list of licensed agents in your state through your state's department of insurance or the National Association of Insurance Commissioners.




Investment dictionary. . 2012.

Look at other dictionaries:

  • business insurance — Life insurance through which a corporation or firm protects itself from the loss of human assets by taking out policies on the lives of the officers and key men in management and production …   Ballentine's law dictionary

  • interruption-of-business insurance — See business interruption insurance …   Ballentine's law dictionary

  • business liability insurance — ➔ insurance * * * business liability insurance UK US noun [U] ► INSURANCE insurance taken out by a company to protect against injury or damage caused by a problem with a product or a failure by an employee: »Every business owner should shop for… …   Financial and business terms

  • business life and health insurance — ➔ insurance * * * business life and health insurance UK US noun [U] (also key person insurance) ► INSURANCE insurance taken out by a company to protect against loss of income caused by the death or illness of an owner or important employee …   Financial and business terms

  • insurance cover — UK US noun [U] (also insurance coverage) ► INSURANCE protection that is given by an insurance company when it agrees to pay money if a particular thing happens, for example if someone is injured, or property is lost or damaged: »When applying for …   Financial and business terms

  • insurance risk — ➔ risk1 * * * insurance risk UK US noun [C] ► INSURANCE the possibility of loss, damage, injury, etc. against which insurance is provided: »We will cover you against flooding and all other insurance risks. ► a person or business when they are… …   Financial and business terms

  • business — busi‧ness [ˈbɪzns] noun COMMERCE 1. [uncountable] the production, buying, and selling of goods or services for profit: • Students on the course learn about all aspects of business. • We are in business to create profit. • The company says it… …   Financial and business terms

  • business interruption insurance — ➔ insurance …   Financial and business terms

  • business owner's insurance policy — ➔ insurance policy …   Financial and business terms

  • business property and liability insurance — ➔ insurance …   Financial and business terms

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