CANVA - Insuring Your Business: Legal Expenses and Business Interruption Insurance

• Pecuniary Insurance IF2 chapter 5
• Higher Education (non-degree)

Solicitors costs

Legal Advice

Legal Defence

Cover Loss of Income

Cover operating costs

Cover Staff Wages if business closed

Equipment failures

Natural Disasters

Claim back uninsured Lossess ie: Excesses

Why would you need legal expenses insurance and business interruption insurance?

Which type of insurance covers the cost of hiring a lawyer?

1. Business interruption insurance
2. Property insurance
3. Health insurance
4. Legal expenses insurance

What does business interruption insurance compensate for?

1. Legal costs
2. Fixed expenses
3. Property damage costs
4. Lost revenue

Which of the following is not typically covered by legal expenses insurance?

1. Investigation costs
2. Legal costs
3. Property damage costs
4. Defence costs

What is business interruption insurance designed to protect against?

1. Property damage
2. Loss of income
3. Additional expenses
4. Legal expenses

What does legal expenses insurance cover?

1. Defence costs
2. Property damage costs
3. Legal costs
4. Business interruption costs