The correct answer is B. Losses related to the extended period when a key person is unable to work.
Keyman insurance is a type of life insurance that protects a business from the financial losses that can occur if a key employee dies or becomes disabled. The policy pays out a lump sum to the business, which can be used to replace the key employee’s income, cover the cost of hiring a replacement, or otherwise mitigate the financial impact of the loss.
Property theft is not covered by keyman insurance, as this is a risk that is typically covered by property insurance. General liability is also not covered by keyman insurance, as this is a risk that is typically covered by general liability insurance. Losses caused due to errors and omissions are also not covered by keyman insurance, as this is a risk that is typically covered by professional liability insurance.
Keyman insurance is an important tool for businesses of all sizes. It can help to protect your business from the financial losses that can occur if a key employee dies or becomes disabled. If you are not sure whether keyman insurance is right for your business, you should speak to an insurance professional.