Common Types of Business Insurance

The video tutorial discusses various business liability policies, including commercial general liability (CGL) policies and professional liability insurance. It explains how these policies cover different risks and contingencies that businesses face, such as property damage, operational cessation, and malpractice. The tutorial also highlights the types of conduct covered by these insurances, emphasizing that intentional conduct is typically not covered.

What is one of the primary purposes of a business liability policy?

• To increase business profits

• To cover property replacement and repair

• To expand business operations

• To reduce employee salaries

What does a commercial general liability (CGL) policy typically cover?

• A wide range of contingencies including property damage and cessation of operations

• Only employee benefits

• Only natural disasters

• Only property damage

Which of the following is often included under a commercial general liability policy?

• Life insurance

• Health insurance

• Professional liability insurance

• Travel insurance

Who are the typical purchasers of professional liability insurance?

• Construction workers

• Professional practitioners like doctors and engineers

• Retail store owners

• Restaurant chefs

What type of conduct is generally not covered by professional liability insurance?

• Intentional conduct

• Reckless conduct

• Negligent conduct

• Accidental conduct