Burglar Alarm and Insurance Assessment

What is a critical risk management technique for maintaining company financial records?

• Storing all records on-site

• Maintaining a complete copy of records off-premises

• Keeping records in a single location

• Not duplicating records

In the context of burglar alarms, what is an important feature for effective alarm response?

• Making a silent alarm

• Notifying the police department or an alarm monitoring company

• Only making an audible sound at the location

• Having no response plan

What should be done if a valuable paper cannot be replaced with one of like kind or quality?

• It should be ignored

• It must be specifically described on the policy

• It should be stored in a regular file cabinet

• It should be duplicated and stored separately

What is included in accounts receivable coverage?

• Only the value of the accounts receivable

• The cost of recovering the accounts and the value of the accounts receivable

• Only the cost of recovering the accounts

• None of the above

What should be done if a loss occurs and the applicant plans to change the types of computers or software?

• Do nothing and continue with the current policy

• Share the plan with the insurance company and endorse the policy accordingly

• Wait until the loss is settled to make changes

• Cancel the current policy