Bianna Ltd, a medium size company, operating in the agrifood sector, supplies quality prepared food products in Ireland and in the UK market - Leaving Cert Business - Question A - 2012

EXON Insurance PLC
(Address, Telephone No., E-mail, Directors etc.)
Date: 14/06/12
Bianna Ltd
(Address)

RE: Business risks and the appropriate types of insurance policy for your company.

Dear Mr./Ms.,

The following is a list of possible business risks and the appropriate types of insurance policy for Bianna Ltd:

1. Structural Damage: The risk of structural damage to the factory, warehouse or office building.

   • Insurance Type: Buildings Insurance – provides protection against loss or damage to the structure of the building caused by fire, flood or storm.

2. Stock Loss: The risk of damage to stock, raw materials, and components.

   • Insurance Type: Contents Insurance – protects against loss or damage to contents caused by burglary, fire or flood.

3. Road Traffic Accidents: The risk of being involved in a road traffic accident.

   • Insurance Type: Motor Insurance – it is compulsory to have third party insurance. Other policies include Third Party Fire and Theft and Comprehensive.

4. Employee Injuries: The risk of a worker injuring himself while carrying out his job.

   • Insurance Type: Employer Liability Insurance – covers claims made by employees as a result of accidents in the workplace.

5. Theft of Stock: The risk of having cash or stock being stolen by an employee.

   • Insurance Type: Fidelity Guarantee Insurance – protects the business against dishonesty or fraud committed by an employee.

6. Product Liability: The risk of the company’s products being harmful to the public.

   • Insurance Type: Product Liability Insurance – protects the business in the event of a customer making a claim as a result of defective products that may have caused harm.

7. Consequential Loss: Goods in Transit/Consequential Loss.

I look forward to hearing from you soon.

Yours faithfully,

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(Signature)
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