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CHAPTER 14, 14-2 Insurable Risks.

Published byKarin Angel Collins Modified over 9 years ago

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Presentation on theme: "CHAPTER 14, 14-2 Insurable Risks."— Presentation transcript:

1 CHAPTER 14, 14-2 Insurable Risks

2 How insurance works INSURANCE COMPANY YOU Insurer Insured

3 How insurance works INSURANCE COMPANY YOU Insurance policy Insurer
Here you go! Insurance policy Insurer Insured

4 How insurance works INSURANCE COMPANY YOU Premium Insurer Insured
Thanks! Premium Insurer Insured

5 How insurance works INSURANCE COMPANY YOU File a claim Insurer Insured
Uh oh! Something happened. I need your help! INSURANCE COMPANY YOU No problemo! That’s why we’re here. File a claim Insurer Insured

6 Ways to get insurance Buy it directly from the company
Get it through your employer Obtain it through a professional organization (ex. VEA)

7 Single company agent Freelance agent Writes insurance policies for only the company they work for Writes insurance policies for several different companies. TYPES OF AGENTS

8 What can you insure? Most common are:
Vehicle, property, health, & life insurance.

9 Health insurance Disability insurance Life insurance
Business insurance Insuring personnel Health insurance Disability insurance Life insurance

10 Commercial property insurance Vehicle insurance
Business insurance Insuring property Commercial property insurance Vehicle insurance

11 Business interruption insurance Liability insurance
Business insurance Insuring operations Business interruption insurance Liability insurance

12 The reason businesses and individuals purchase insurance is to
Make a profit Provide financial protection Reduce taxes Increase sales The reason businesses and individuals purchase insurance is to

13 The reason businesses and individuals purchase insurance is to
Make a profit Provide financial protection!! Reduce taxes Increase sales The reason businesses and individuals purchase insurance is to

14 Another term for an insurance company is the policyholder.
True or false? Another term for an insurance company is the policyholder.

15 Another term for an insurance company is the policyholder.
True or false!! Another term for an insurance company is the policyholder.

16 Health insurance Property insurance Vehicle insurance Liability insurance Insurance that provides coverage for claims by others based on damages suffered as a result of business operations, employees, or products is

17 Health insurance Property insurance Vehicle insurance Liability insurance!! Insurance that provides coverage for claims by others based on damages suffered as a result of business operations, employees, or products is

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