| A | B |
|---|
| Business interruption insurance | compensation for ongoing business expenses that occur if a business has a temporary shutdown due to a fire, flood, or other major problem. |
| Claim | a policyholder's request for payment for a loss that the insurance policy covers. |
| Commercial property insurance | coverage of property losses resulting from fire, storms, accidents, theft , and vandalism. |
| Controllable risk | a risk that you can reduce or eliminate by actions you take. |
| Copyright | the protection of the creative work of authors, composers, and artists. |
| Counterfeiting | illegal uses of intellectual property, patents, trademarks, and copyrights. |
| Economic risk | a risk that can result in financial loss, including personal risk, property risk, and liability risk. |
| Group insurance | health insurance coverage offered to a large number of employees and their family members. |
| Health insurance | protection against the high costs of individual health care. It covers routine costs of medical care and may also cover costs of hospitalization or other needed medical treatments. |
| Insurable risk | when a large number of people face a given risk and the cost of the possible losses can be predicted. |
| Insurance | a form of risk protection that exchanges the uncertainty of a possible large financial loss for a certain smaller payment. |
| Insurance agent | an agent who represents the insurance company and sells insurance policies to individuals and businesses. |
| Insurance policy | a policy stating the conditions to which the insurance company and the policyholder have agreed. |
| Insured | the person or business for which the insurer assumes the risk. |
| Insurer | a company that agrees to take on certain economic risks and to pay for losses if they occur. |
| Intellectual property | technical knowledge or creative work. It includes soft ware, clothing designs, music, books, and movies. |
| Liability insurance | protection against losses from injury to people or property resulting from the products, services, or actions of a business. |
| Liability risk | a risk that relates to harm or injury to other people or their property because of your actions. |
| Life insurance | insurance that pays the amount of the insurance policy upon the death of the insured. The payment is made to people named in the policy known as beneficiaries. |
| Non-economic risks | may result in inconvenience or discomfort but do not have a financial impact. |
| Patent | the exclusive right of an inventor to make, sell, and use a product or process. |
| Personal risk | a risk that can result in personal losses such as health and personal well-being. |
| Policyholder | the person or company buying the policy. |
| Premium | the amount a policyholder must pay for insurance coverage. |
| Property rights | the exclusive rights to possess and use property and its profits. |
| Property risk | a risk that can lead to loss of personal or business property including money, vehicles, and buildings. |
| Pure risk | a risk that presents the chance of loss but no opportunity for gain. |
| Risk | the possibility of incurring a loss. |
| Speculative risk | the chance either to gain or to lose. |
| Trademark | a distinctive name, symbol, word, picture, or combination of these that a company uses to identify products or services. |
| Uncontrollable risk | a risk that cannot be reduced by your actions. |
| Uninsurable risk | when a risk is not common or if it is impossible to predict the amount of loss that could be suffered. |
| Vehicle insurance | coverage of automobiles, trucks, and other business vehicles. |
| Workers' compensation | an insurance plan that provides medical and survivor benefits for people injured, disabled, or killed on the job. |
