Business Insurance

Definition

  • An insurance policy that provides coverage for losses arising due to the normal operation of a business. Business insurance is an umbrella term that encompasses insurance policies covering losses ranging from property damage and legal liability to employee welfare.

Synonyms
business liability insurance, business owner's policy, company insurance, corporate coverage

Related Terms and Acronyms

  • Accounts Receivable Insurance Definition,
    • Insurance covering losses due to cash flow problems.
  • Business (busn) Abbreviation,
    • A company, either for-profit or non-profit.
    • Commercial, industrial or professional activities undertaken by an entity.
    • Economic activities of a given type.
  • Business Continuation Insurance Definition,
    • Insurance that provides coverage in the event that someone integral to the operation of a business dies or becomes disabled.
  • Business Crime Insurance Definition,
    • Insurance that covers losses due to criminal acts perpetrated by customers or employees.
  • Commercial Blanket Bond Definition,
    • Insurance that covers losses to businesses due to different forms employee fraud, such as embezzlement and forgery.
  • Commercial Forgery Policy Definition,
    • Insurance that protects businesses from losses due to them unknowingly accepting forged or counterfeit checks as payment.
  • Commercial Property Insurance Definition,
    • Property insurance that provides coverage for damages to commercial property due to named perils such as fire or theft.
  • Insurance (insur) Abbreviation,
    • An arrangement where one party provides financial protection to another party for specific damages or losses.
  • International Chamber of Commerce (ICC) Acronym,
    • A world business organization that brings business people and experts together to formulate policies in such areas as banking, taxation and the environment.
  • Inventory Definition,
    • Stock on hand in the form of goods ready for sale. Also includes raw material in the process of being manufactured or completed for sale.
  • Loss Payable Clause Definition,
    • An insurance policy provision for payment of a claim to someone, other than the insured's interest in the insured property. This clause basically allows an insurer to make payments to a third party in certain circumstances.
  • Single Interest Insurance Definition,
    • Insurance that covers a single party when more than one party has a stake in a property.
  • Valuable Papers Insurance Definition,
    • Insurance that covers damages to valuable papers such as property deeds or wills.
  • Vandalism and Malicious Mischief Coverage Definition,
    • Insurance that covers property owners for damages resulting from acts of vandalism.
  • Work and Materials Clause Definition,
    • A provision that allows the policyholder to store certain materials in insured property if needed by their line of work.
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