Small Business Encyclopedia

Category: Insurance

Auto Insurance

Definition: A contract for an automobile in which one party agrees to pay for another party's financial loss resulting from a specified event (for example, a collision, theft or storm damage)

Bonding

Definition: A guarantee of performance required, either by law or consumer demand, for many businesses, most typically general contractors, temporary personnel agencies, janitorial companies and businesses with government contracts

Business Interruption Insurance

Definition: Insurance coverage that protects a business in the event of natural disaster, fire or other extenuating circumstances that affects the ability of your company to conduct business

Health Insurance

Definition: A policy that will pay specified sums for medical expenses or treatments. Health policies can offer many options and vary in their approaches to coverage.

Insurance

Definition: Protection against loss for which you pay a certain sum periodically in exchange for a guarantee that you'll be compensated under stipulated conditions for any specified loss by fire, accident, death, etc

Key Person Insurance

Definition: Life insurance on a key employee, partner or proprietor on whom the continued successful operation of a business depends. The business is the beneficiary under the policy.

Liability Insurance

Definition: Insurance coverage that protects against claims against the insurance holder of property damage, personal injury, negligence and so on

Life Insurance

Definition: An agreement that guarantees the payment of a stated amount of monetary benefits upon the death of the insured

Property Insurance

Definition: Insurance that protects the physical property and equipment of a business against loss from theft, fire or other perils; all-risk coverage covers against all risks; named-peril coverage covers only against specific perils named in the policy.

Risk Management

Definition: Decisions to accept exposure or reduce vulnerabilities by either mitigating the risks or applying cost effective controls

Special Coverage Insurance

Definition: An insurance policy expressly designed to offer a guarantee of protection in the event of specific circumstances

Unemployment Insurance

Definition: A federal program whereby eligible unemployed persons receive cash benefits for a specified period of time. These benefits are paid out of funds derived from employer, employee and government contributions.

Workers' Compensation Insurance

Definition: Insurance that covers medical and rehabilitation costs and lost wages for employees injured at work; required by law in all states

Free Business Tools

Forms

Forms

Download and customize these free forms:

Partnership Agreement

Cashflow Worksheet

Employment Application

Calculators

Calculators

Evaluate and analyze your financials:

Cash Flow

Starting Costs

Discounted Cash Flow

Ads by Google

Latest Articles

33 Tips to Help You Ace a Media Interview (Infographic)
Publicity

33 Tips to Help You Ace a Media Interview (Infographic)

Dispel nerves and put your best foot forward when getting face time with reporters.
Nina Zipkin
Anatomy of a VC Deal: How One Seattle Startup Raised $12.5 Million
Funding

Anatomy of a VC Deal: How One Seattle Startup Raised $12.5 Million

We'll take you through the entire process, from pitch decks to cut checks.
Michelle Goodman
Sage Business Advice From America's Founding Fathers
Inspirational Quotes

Sage Business Advice From America's Founding Fathers

To celebrate the Fourth of July, here are inspirational quotes from five signers of the Declaration of Independence.
Matthew Toren
Coming to America: An Immigrant Who Overcame a 'Taxing' Problem
Franchise Players

Coming to America: An Immigrant Who Overcame a 'Taxing' Problem

Six years ago, Paula Paredes started her ATAX franchise by first tackling an obstacle that had nothing to do with the IRS.
Entrepreneur Staff
The Secret to Connecting With Your Audience
Communications

The Secret to Connecting With Your Audience

There's one thing you can do that will rally your customers, colleagues and even competitors.
Stephen Key
Failure Is Not the End. It's an Opportunity to Learn.
Failure

Failure Is Not the End. It's an Opportunity to Learn.

Failure is an external event that happens. It is not a personality characteristic.
Ron Burr
How Growing Up With the Internet Made Millennials Different
Millennials

How Growing Up With the Internet Made Millennials Different

The generation dubbed "digital natives'' prefer YouTube to TV and the World Cup to bowl games. Marketers need to adapt.
Jeff Urban
What the Color of Your Logo Says About Your Company (Infographic)
Infographics

What the Color of Your Logo Says About Your Company (Infographic)

The Golden Arches just wouldn't communicate the same thing if they were purple.
Catherine Clifford
10 Inspirational Quotes About Independence From Successful Entrepreneurs
Inspirational Quotes

10 Inspirational Quotes About Independence From Successful Entrepreneurs

Ten famous entrepreneurs tell us why they declared their freedom.
Matthew Toren
Should You License Your Product?
Ask the Money Guy

Should You License Your Product?

An expert breaks down the good and the bad of licensing to help you decide.
No Gender Bias Figured Into What These Franchisees Chose to Do
Franchise Players

No Gender Bias Figured Into What These Franchisees Chose to Do

They used to be in oil and gas; now these guys are into waxing. No, not cars -- women's legs.
Why This Little Pickle Stand Is a Symbol of Big Innovation
Family Businesses

Why This Little Pickle Stand Is a Symbol of Big Innovation

For the company behind Horman's Best Pickles, there's never a 'dill' moment.
Carly Okyle
How to Set Prices for Your Child-Care Service
Starting a Business

How to Set Prices for Your Child-Care Service

Learn to determine pricing that will make you a profit but won't scare away parents.
The Staff of Entrepreneur Media, Inc.
The 12 Steps to Happiness That You Create (Infographic)
Happiness

The 12 Steps to Happiness That You Create (Infographic)

This feeling that we all strive for is a path we choose, not a destination to arrive at.
Jurgen Appelo
5 Ways to Be Present With Your Startup, Not Pestered By It
Leadership

5 Ways to Be Present With Your Startup, Not Pestered By It

The line between being mindfully engaged and completely consumed by your startup can become hazy over time.
Paresh Shah
More Articles

About Encyclopedia

No matter what business topic you're interested in, you'll find our category list is an easy way to navigate our small-business encyclopedia. From Accounting and Advertising to Location and Operations, every topic offers information on the terms that matter most. And if you can't find what you need here, our "Terms A - Z" list makes tracking down terms a snap.

Ads by Google