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Do You Think Insurance is a Waste of Money?
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[QUOTE="Richee84, post: 215913, member: 42448"] Insuring your business against risk or unforseen circumstances is a right move in the right direction. Every business has it own form of challenges which must be overcome or reduce to acceptable limit for the business owner or for the management. When a business is insured against risk, it is one of the method use in controlling risk which is called risk sharing. Risk sharing is a for of controlling risk by sharing the total burden of the risk with a third party or an insurance company. When a business is insured against risk then the business is safe as the company will compensate the business if in case the business run into a loose. Depending on the risk policy the business enter into with the insurance company, some the insurance company will be fully responsible for the total loose incure on an insured business while some the insurance company will only compensate partly and not fully base on the agree term. A good country with functioning government should be able to encourage all business owner in the country to have their businesses insured. There are more greater advantages to insuring a business to not insuring it not minding the money been pay. [/QUOTE]
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