The most common types of commercial insurance are property, liability and workers' compensation. In general, property insurance covers damages to your business property; liability insurance covers damages to third parties; and workers' compensation insurance covers on-the-job injuries to your employees.
NEC: Necessary: NEC: Not Elsewhere Classified: NEC: National Elections Commission
In the electrical world, NEC stands for the National Electrical Code. NEC is the safety standard used by most states, municipalities and cities. Building inspectors âthe authority having jurisdictionâ can reject an electrical installation, if the installation doesnât follow the standards defined in the NEC.