Posted: November 8th, 2022

Give an example of a company & industry that may not need to purchase this type of insurance.

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Hello Class,
As a part of this chapter, we discuss business insurance because insurance is a way to deal with uncertainty in business. Many of my clients approach me with questions about insurance: whether it is necessary to purchase, who to purchase from or just to complain about the fact they hadn’t purchased insurance and regret it due to a recent incident.
Instructions:
1. Before you begin this assignment, please watch the following 16-minute video on various types of business insurance:
Business Insurance: A Quick & Easy OverviewLinks to an external site.
Business Insurance: A Quick & Easy Overview
2. Pick one of the types of insurance (ideally, one that you’re not familiar with) and do a little research on this type of insurance. Choose one that another student has not written about already. Here is a list of the types of insurance you can choose from: Business Insurance.pdf
3. Answer the following questions about the type of insurance you chose:
a. In a few sentences, describe what type of insurance it is. What does it cover?
b. Give an example of a company & industry that should purchase this type of insurance.
c. Give an example of a company & industry that may not need to purchase this type of insurance.
d. Find an insurance company that provides this type of insurance and let us know how much it would cost per year (on average).
e. Tell us the average coverage that is usually covered through this type of insurance.
f. Are there any discounts available?
g. Find an article online discussing this type of insurance and summarize the article for us.
4. Write a 5-10 sentence response to one other student’s post. Specifically: Tell the student what you found interesting about his/her post then try to play devil’s advocate and discuss why you think this insurance might not be necessary and explain your rationale. Managers are always looking to cut costs. Put your manager’s thinking cap on and explain why you’d prefer to save on the insurance premium in this situation.

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