Which Type of Insurance Is the Most Important Type of Insurance

question 89

Multiple Choice

Which type of insurance is the most important type of insurance as a business person that protects you from tort liability to third parties?

• A) Negligence insurance
• B) Class action insurance
• C) Tortious insurance
• D) Third-party liability insurance
• E) Liability insurance

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Definitions:

Benchmarking

The practice of comparing business processes and performance metrics to industry bests or best practices from other companies to identify areas for improvement.

Customer Perspective

An aspect of a business strategy that focuses on understanding and meeting the needs and expectations of customers.

Internal Business Process Perspective

A focus in performance management that evaluates the efficiency and effectiveness of company operations.

Client Satisfaction Rating

A measure used to quantify the degree to which a client is happy with the products or services provided by a business, often influencing loyalty and retention.