Definition: The word 'chips insurance' refers to a type of insurance that covers goods or assets being used for personal use, such as chips, by an employer in return for a fee. Definition: Chips insurance is a form of insurance that provides protection against loss resulting from damage to property or assets covered under the policy. The primary benefit of using chips insurance is that it helps prevent theft and reduces the financial risk associated with losing valuable items due to accidental damage or loss caused by external causes. It also covers liability for any losses incurred as a result of mishandling or negligence by employees who are not authorized to use the property. Typically, chips insurance policies cover various types of goods and assets such as cash, securities, banknotes, jewelry, electronics, and more, with varying levels of coverage depending on the specific policy terms. The primary goal of using chips insurance is to ensure that the value of personal belongings is protected against loss or damage caused by external causes.
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