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    Importance of Insurance to Business Insurance Helps to Get Loan to Business When the Business has insurance then getting the loan make easy because it creates faith on loan provider. Insurance also increases the goodwill of the business. Insurance Make Social Co-operation Easy The burden of loss isRead more

    Importance of Insurance to Business

    • Insurance Helps to Get Loan to Business

    When the Business has insurance then getting the loan make easy because it creates faith on loan provider. Insurance also increases the goodwill of the business.

    • Insurance Make Social Co-operation Easy

    The burden of loss is divided into many persons. That makes the insurance social co-operation.
    Click Here: Importance of Insurance to Society.

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    According to Collinsdictionary.com Insurance is an arrangement in which you pay money to a company, and they pay money to you if something unpleasant happens to you, for example, if your property is stolen or damaged, or if you get a serious illness. six general types of insurance Property InsuranceRead more

    According to Collinsdictionary.com
    Insurance is an arrangement in which you pay money to a company, and they pay money to you if something unpleasant happens to you, for example, if your property is stolen or damaged, or if you get a serious illness.

    six general types of insurance

    • Property Insurance

    Property Insurance means that insurance companies provide certain security against the property of the person.

    • Fire Insurance

    Fire Insurance means protection of the stocks or products against the fire. If the business owner takes the fire insurance it helps them or secures him against the fire of the products.

    • Life Insurance

    Life Insurance means to get the security of health of the person. If any person got admitted in the hospital then Insurance company will pay the amount of the bill, it depends on the policy he took.

    • Property Insurance

    Property Insurance means to provide protection against the damaged or destroy property.  Property Insurance makes sure the businessman that company will pay the amount of the damage.

    • Personal Insurance

    Personal Insurance means to get the insurance of yourself. It means that to get yourself insured.  Personal insurance includes insurance of loss due to death, accident, and disease.
    Click Here: Importance of Insurance to Society

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    According to Prof. D.S. Hansell: “A social device providing financial compensation for the effects of misfortune, the payments being made from the accumulated contributions of all parties participating in the scheme”. According to Dr. W.A. Dinsdale: “Insurance is a device for the transfer of risks oRead more

    According to Prof. D.S. Hansell:
    “A social device providing financial compensation for the effects of misfortune, the payments being made from the accumulated contributions of all parties participating in the scheme”.
    According to Dr. W.A. Dinsdale:
    “Insurance is a device for the transfer of risks of individual entities to an insurer, who agrees, for a consideration,to assume to a specified extent losses suffered by the insured”.
    According to Ghosh and Agarwal
    Insurance is a co-operative form of distributing a certain risk over a group of persons who are exposed to it.

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