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Business Law: Insuring Against Risk

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What are the two most important risks that business would seek to insure against? Generally describe what the coverage would be and the amount of policy limits. Would the insurance for either risk be worth the premium cost? Why or why not?

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Solution Summary

This response discusses the risks that most businesses would insure against. Policy limits and coverage are discussed as well.

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What are the two most important risks that business would seek to insure against?
The two most important risks that business would seek to insure against include General Liability and Product or Professional Liability.

There may be more than two risks that businesses should seek to insure against. However, in general, the most necessary begins with internal hazards, such as in one's building or location (e.g. risks of fire, theft, "business interruption," etc), personal ...

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