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Department stores are diverse and can be categorized into 3 tiers. Describe each tier and give an example of a retailer (for each tier).
Legally Required Insurance
Insurance policies that businesses are mandated to have by law to cover potential damages or liabilities.
Short-term Disability Plans
Insurance plans that provide employees with income for a brief period during which they are unable to work due to illness or injury.
Paramedical Expense Coverage
Insurance coverage that pays for medical services outside of traditional hospital care, such as physiotherapy, acupuncture, and massage therapy.
Indirect Compensation
Compensation that is not paid directly as cash to an employee but instead provides value in other forms such as insurance, stock options, or retirement plans.
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