Which type of insurance policy combines several policies typically required for a business?

A business pack insurance policy is specifically designed to combine several different types of coverage that a business typically requires into one cohesive policy. This can include a variety of protections such as property insurance, liability insurance, and business interruption insurance, among others. By bundling these policies together, businesses can simplify their insurance management, often resulting in cost savings and reduced administrative strain.

In contrast, captive insurance refers to a situation where a business creates its own insurance company to insure its risks, which is more specialized and may not provide the broad coverage that a business pack does. The term burden of proof pertains to legal standards in court cases, not insurance policies. Closing typically refers to the finalization of a real estate transaction or the end of a business deal rather than a type of insurance policy. Thus, the business pack is the most fitting choice as it directly addresses the need for a comprehensive solution to a business’s insurance needs by consolidating multiple coverages.