Insurance Coverage for Various Types of Risk


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question 1 of 3

Which of the following statements is the best explanation of how insurance allows a company to manage risk?

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1. What is the difference between general liability insurance and product liability insurance?

2. Which one of the following types of insurance is usually required by law?

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About This Quiz & Worksheet

In these assessments, you'll cover concepts such as what casualty insurance involves and how to transfer risk.

Quiz & Worksheet Goals

The items in these assessments evaluate how well you know:

  • Different kinds of insurance and their characteristics
  • How insurance best allows a company to manage risk
  • What loss business interruption insurance protects against

Skills Practiced

  • Interpreting information - verify you can read information regarding how insurance best allows a company to manage risk and interpret it correctly
  • Knowledge application - use your knowledge to answer questions about the insurance usually required by law
  • Information recall- access the knowledge you've gained regarding business interruption insurance

Additional Learning

Go over the lesson called Insurance Coverage for Various Types of Risk to improve your knowledge further. Reading through this lesson will ensure you:

  • Understand what insurance is
  • Describe how the insurance relationship is governed
  • Identify the different types of insurance coverage companies and persons can get
  • Show what casualty insurance might cover
  • List the types of policies a business might need and why