1. Insurance for Businesses
19/05/2019
CHAPTER 21
Insurance for Businesses
This is the Title Slide
R. DELANEY

2. R. Delaney
Non-Insurable Risks
Loss of profit due to sudden increases in the cost of production
Loss of profit due to strikes
Loss of profit due to changes in consumers’ tastes and fashions
Loss of profit due to the entry of new rival firms into the industry
Loss of profit due to the adverse effects of new legislation
Loss of profit due to adverse effects of international trade agreements before the trade agreement
Loss of profit due to bad management

3. Types of Business Insurance
R. Delaney
Types of Business Insurance
Bad debt insurance
Building insurance
Burglary / theft insurance
Cash in transit insurance
Consequential loss insurance
Employer’s liability insurance
Fidelity bond insurance
Fire insurance
Goods in transit insurance
Motor insurance
Plate glass insurance
Product liability insurance
PRSI / (USC)
Professional indemnity insurance
Public liability insurance
Sprinkler leakage insurance

4. Calculating a premium: Workbook, page 112, Q5
R. Delaney
Calculating a premium: Workbook, page 112, Q5
Calculations
Amount
Premises
250 X €8
€2,000
Stock
80 X €5
€400
Subtotal
€2,400
Less discount
10% of €2,400
€240
Total premium payable
€2,160