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It all depends on the terms of the insurance policy. If it says it will cover that kind of loss, you're covered. If it doesn't specifically cover that kind of loss, you're out.

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Q: Will liability insurance cover a business that purchased stolen goods with out knowing the goods were stolen?
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What is the motto of Federated Insurance Company of Canada?

Federated Insurance Company of Canada's motto is 'Knowing Your Business Matters'.


What is the cost of liability insurance for small businesses?

There is no simple answer without knowing what kind of small business you have. A small factory will pay more for their insurance than say a Donut Shop or a Daycare Center. you might pay $800 per year or you may need to pay $800,000 per year. it all just depends on the risk exposure of your business operations.


What is the cost of general liability insurance for an independent contractor?

It all depends on the overall risk exposure. Without knowing what type of contractor you are and what you annual volume is, there is no way to guess what you might pay for your insurance.


What is the subject matter of insurance?

In General, SME means Subject Matter Experts. Subject Matter of Insurance is expert in insurance domain business. So you might ask what is the difference between BA - business and SME in insurance. BA will be knowing only the insurance business term but a SME will be able to say the whole business. Let me give a example in P&C insurance, BA will know for what the Bodily injury liability coverage is provided and premium charged. But a SME will be knowing how the premium is derived for Bodily injury liability coverage ie the first base premium is calculated. we also derive class factor for the insured. Class factor = primary factor + secondary factor. The factors include age,youth,married, MVR record, insurance score from CLUE report (get from third party like Choice point, FAIR...) and applicable discounts like deference driver, passive restraint(air bag). The overall discounts include multi-car or package(more than one LOB) policy. SME will be able to say the entire insurance business system but BA cannot.. I think you have a better understanding... Karthikeyan


What kind of insurance does a self employed?

Without knowing which occupation you are in, it is difficult to answer this question. But to start, a self-employed person will usually need to buy basic health or medical insurance, but since you will not be part of a group plan, it may cost you more. And if you are in a skilled trade, you should probably get liability insurance, to protect yourself against being sued if problems occur in the course of doing work for a customer. Some small business owners also have business insurance to protect their office and the property in it.


How does contingent liability impact earnings?

Contingent liability can impact earnings because it is a projected and future liability. Not knowing what the outcome of the liability is, it can unexpectedly affect a large amount of earnings.


Catering Insurance?

Catering insurance is a type of insurance that is specifically designed for catering businesses. It is a combination of different types of insurance coverage that caterers may need to protect their business from potential risks and liabilities. Catering insurance typically includes the following types of coverage: General liability insurance This covers bodily injury or property damage that may occur during catering events. Product liability insurance This covers damages that may result from serving food that causes illness or injury to customers. Commercial auto insurance This covers the catering truck or other vehicles used to transport catering equipment and supplies. Property insurance This covers damage to catering equipment, supplies, and the physical location of the catering business. Business interruption insurance This covers losses that may occur if a catering business is unable to operate due to a covered event, such as a fire or natural disaster. Workers' compensation insurance This covers employees in case of work-related injuries or illnesses. Having catering insurance is important for protecting a catering business from potential financial losses and liabilities. It can give caterers peace of mind knowing that they are covered in case of accidents, injuries, or damages that may occur during their catering events.


What is an average price for liability insurance for small businesses?

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The Need for Business Insurance?

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As an independent sub-contractor are you required to get professional liability insurance?

This depends on a number of things. It's hard to say without knowing what kind of work you are sub-contracting. First determine if you need Professional Liability coverage Or Commercial Liability Coverage. They are very different products. Most General Contractors do require the subs to carry insurance. Otherwise the General Contractor will have to pay much more for insurance coverage that effectively covers his or her own activities as well as those of the sub-contractors. If the General Contractor you are doing work for already has coverage for his subs under their insurance (usually not). What is the nature of your agreement with the General Contractor. Some Contractors insurance policies cover subs while others do not.


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Know Your State Auto Insurance Law When Shopping?

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