Insurance Limited
Businesses require special types of insurance policies that insure against specific types of risks faced by a particular business. For example, a fast-food restaurant needs a policy that covers damage or injury that occurs as a result of cooking with a deep fryer. An auto dealer is not subject to this type of risk but does require coverage for damage or injury that could occur during test drives. Life Insurance- Life insurance is a contract between an insurer and an insured. Under a life insurance plan, in exchange for a premium, the insurer promises to provide the policy nominee with a pre-decided sum of money upon the death of the policyholder . Thus the homeowner’s policy is multi-peril in nature, covering a wide variety of risks formerly written under separate contracts. Errors and omissions insurance (E&O) is business liability insurance for professionals such as insurance agents, real estate agents and brokers, architects, third-party administrators and other business pr