NASCLA Contractors Guide Virginia, 8th Ed Chapters 4 Managing Risk
UPDATED ACTUAL Questions and CORRECT Answers
business?
Why is managing risk important?
What should supplement your risk management pro-
gram?
What does property insurance typically cover?
What is the purpose of liability insurance?
Name the types of liability insurance policies available
What is bundled under business owner policies?
What is typically covered under auto insurance?
What is typically covered under Burglary and Theft Insur-
ance?
What insurance is designed to protect the continuing
success of the
, de-pends on specific individuals
important to your reputation and bottom line
-Lower business and liability insurance premiums
-Reduce chances of being sued
-Improve chances of prevailing in a lawsuit
Insurance. It provides protection against unforeseen
events and is sometimes required by law
insurance typically covers your business and
personalproperty when damage, theft, or loss
occurs.
types of property insurance: All-risk builders' risk, named
peril builders' risk, inland . marine/equipment theft,
equipment floater, transportation floater, and motor truck
cargo
policies
designed to protect against third-party claims that arise
from alleged negligence resulting in bodily injury or
prop-erty damage
commercial general, umbrella, and director's and
oflcer'sliability insurance
Property and liability coverage
Liability and physical damage associated with
vehiclesowned or leased by your company
Loss or damage by burglary, theft, larceny,
robbery,forgery, fraud, and vandalism
Key Man Life Insurance: This type of insurance is
availableas life insurance or disability insurance, or both
-This type of coverage is beneficial if your company
2/4
UPDATED ACTUAL Questions and CORRECT Answers
business?
Why is managing risk important?
What should supplement your risk management pro-
gram?
What does property insurance typically cover?
What is the purpose of liability insurance?
Name the types of liability insurance policies available
What is bundled under business owner policies?
What is typically covered under auto insurance?
What is typically covered under Burglary and Theft Insur-
ance?
What insurance is designed to protect the continuing
success of the
, de-pends on specific individuals
important to your reputation and bottom line
-Lower business and liability insurance premiums
-Reduce chances of being sued
-Improve chances of prevailing in a lawsuit
Insurance. It provides protection against unforeseen
events and is sometimes required by law
insurance typically covers your business and
personalproperty when damage, theft, or loss
occurs.
types of property insurance: All-risk builders' risk, named
peril builders' risk, inland . marine/equipment theft,
equipment floater, transportation floater, and motor truck
cargo
policies
designed to protect against third-party claims that arise
from alleged negligence resulting in bodily injury or
prop-erty damage
commercial general, umbrella, and director's and
oflcer'sliability insurance
Property and liability coverage
Liability and physical damage associated with
vehiclesowned or leased by your company
Loss or damage by burglary, theft, larceny,
robbery,forgery, fraud, and vandalism
Key Man Life Insurance: This type of insurance is
availableas life insurance or disability insurance, or both
-This type of coverage is beneficial if your company
2/4
