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Insurance
Junior Cert Business Studies
Term | Definition |
---|---|
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= |
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= |
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= |