What Is the Purpose of Business Liability Coverage

question 17

Multiple Choice

What is the purpose of business liability coverage?

• A) Protect the policy holder from losses due to injury to another person or another person's property
• B) Protect the business from embezzlement by an employee
• C) Protect the business from damage due to fire or flood
• D) Protect the business from losses due to negligence by a public employee

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Definitions:

Parsimony

A principle in science and philosophy that prefers the simplest explanation that accounts for all observed phenomena, often referred to as Occam's razor.

Theory of Reasoned Action

A theory that predicts an individual's behavior based on their intention to perform the behavior, which is determined by attitudes towards the behavior and subjective norms.

Planned Behavior

A theory that predicts individuals' behavior based on their intentions, attitudes towards the behavior, subjective norms, and perceived behavioral control.

Theory of Planned Behavior

This theory posits that human behavior is guided by three kinds of considerations: behavioral beliefs, normative beliefs, and control beliefs.