Types of Insurance

Types of Insurance for Households and Businesses Match up the correct Term with the explanation. PRSI Pay Related Social Insurance Comprehensive Insurance car insurance that covers losses of the third party, fire and theft as well as accidental damage to their own vehicle Personal Accident Insurance covers loss if the insured has a serious accident Whole Life Policy Life assurance that pays out compensation when the personal dies. Endowment Policy this will pay out when the policy has reached a certain date or when the person dies, whichever comes first. Fidelity Guarantee covers loss suffered due to fraudulent activities by employees e.g. theft. Public Liability covers claims made by members of the public who are injured while on the businesses premises e.g. a fall Consquential loss covers the loss of income due to another risk happening e.g. fire Assurance is covering a risk that will happen i.e. death Insurance is covering a risk that might happen Mortgage a loan taken out for the purchase of a house or to build a house Employer's Liability Covers claims made by an employee for accident, illness or injury that happened in the workplace.