BUSINESS SERVICES

3. A static unit for keeping and storing goods in a scientific and systematic manner so as to maintain their original quality, value and usefulness.
5. It is the duty of the insured to take reasonable steps to minimise the loss or damage to the insured property.
8. When the services have to be performed exclusively each time.
9. The participation of the customer in the service delivery process.
10. The right of the insurer to stand in the place of the insured.
11. The insurer undertakes to compensate the insured for the loss caused to him/her due to damage or destruction of property insured.

1. Services have little or no tangible components and, therefore, cannot be stored for a future use.
2. The simultaneous activity of production and consumption being performed.
4. It means accepting, for the purpose of lending and investment of deposits of money from the public.
6. It makes goods available to the consumer from the place of production.
7. It is the right of the insurer who has paid claim under an insurance to call upon other liable insurers to contribute for the loss of payment.
11. The services that cannot be touched and are experiential in nature.