Photo AI
Read the information supplied and answer the questions which follow - Leaving Cert Business - Question 5(A) - 2012
Question 5(A)
Read the information supplied and answer the questions which follow. Bianna Ltd, a medium size company, operating in the agri-food sector, supplies quality prepared... show full transcript
Worked Solution & Example Answer:Read the information supplied and answer the questions which follow - Leaving Cert Business - Question 5(A) - 2012
Step 1
Draft a business letter from EXON Insurance PLC to Bianna Ltd
Answer
EXON Insurance PLC
(Address, Telephone No., E-mail, Directors etc.)
Your ref:
Date: 14/06/'12
Bianna Ltd
(Address)
RE: Business risks and the appropriate types of insurance policy for the company.
Dear Mr./Ms.,
The following is a list of possible business risks and the appropriate types of insurance policy for your company.
-
Risk of structural damage to the factory, warehouse or office building.
Building Insurance – provides protection against loss or damage to the structure of the building caused by fire, flood or storm. -
Risk of damage to stock, raw materials, components etc.
Contents Insurance – provides protection against loss or damage to contents caused by burglary, fire or flood. -
Business interruption due to a road traffic accident.
This risk is often compulsory by law to have third party insurance. Other policies include comprehensive insurance for company vehicles. -
Risk of injury to an important member of staff.
Key Person Insurance – protects the business against loss of earnings due to the absence of a valuable staff member. -
Liabilities arising from customers injuring themselves while on the premises.
Public Liability Insurance – protects the business against claims made by the public. -
Risk of employees injuring themselves while carrying out their job.
Employers Liability Insurance – covers claims made by employees who have been injured or suffered from illness while working for a business. -
Risk of dishonesty or fraud.
This includes theft of stock being stolen by an employee. -
Risk posed by transported goods.
Goods in Transit Insurance – protects the business from loss of products being harmful to the public. -
Other Risks.
Consequential Loss Insurance – protects the business against loss due to a customer making a claim for loss caused by the business.
I look forward to hearing from you.
Yours faithfully,
Signature
Position Held
Enc.