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. Academic. 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 [ˈbɪzns] 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