1. Amy Thist never saw a need to carry anything other than standard business insurance for her jewelry business, and so she purchased a “business package” policy that provided general business liability insurance along with $475,000 on her “Business Personal Property.” Amy arrived at that coverage limit by adding her jewelry inventory of $400,000 to the $75,000 that she estimated she had in furnishings, improvements, fixtures, and equipment. The premium was substantial, and an agent who didn’t ask for a lot of details was willing to sell Amy a general business insurance policy with the limit that she requested.







