2. Business Insurance

3. Types of Business Insurance Theft Insurance: theft of equipment and stock Fire Insurance: damage to premises, equipment and stock Consequential Loss: covers the firm for loss of profits while a business is closed as a result of fire or flood.

4. Types of Business Insurance Fidelity Guarantee: compensates an employer for loss of cash arising from dishonest workers Cash in Transit: covers theft of cash while in transit between the business and bank Goods in Transit: covers theft or damage to goods while been transported Motor Insurance: compulsory covers damage or injury cause by motor vehicles.

5. Types of Business Insurance Employers liability: employees injured at work Public liability: customers injured while visiting the business Product liability: injury to customers using the product Bad debts: loss due to customers not paying their debts.

6. Reasons for business insurance Protection of assets against fire and theft Protection against legal action as a result of accidents to the public or staff Legal reasons- motor insurance