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Ch2 - Q2.14

A

Alan2007

Member
There is a question on marketing a type of policy to small shopkeepers selling groceries. The question asks for the types of peril.

In the solution there is an assumption that the shopkeeper does not own the shop itself.

I would interpret this as the shopkeeper is a manager running the shop on behalf of the owner. Therefore it would not be the shopkeepers responsibility to buy insurance but the owner.

I would understand that the shopkeeper would require general insurance if he/she owned the shop itself.

Thanks :)
 
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If the shopkeeper owned the shop then he would need to buy insurance cover for the actual building as well as the items listed in the solution.

In this case, the assumption is that he doesn't own the shop but rents the use of the building. (Remember - he's a small shopkeeper so may not have the funds to buy a property.)

He still needs insurance cover for everything within the shop, together with liabilty, business interruption etc. - as listed in the solution.
 
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