INSURANCE - General
Insurance - An Interview
The insurance industry today plays an important party in the personal affairs of individuals and ever more important part in the commercial life of any city. Life insurance, accident insurance, hospitalization, benefit insurance are some forms of insurance which sought after. Of course, motor insurance and property insurance are potentially household words.
What is insurance all about? Insurance is taken out primarily against risks that people may encounter, whether risk is to life, limb or health so that in the event that one is affected by such a hazard, the insurance may serve to bring some financial relief. It must be remembered that while we may take every possible measure to avoid risks, it may help to avert the danger that is contemplated.
Commercial Entities
The commercial activities of a society provide the life blood of that society. In one form or another some form of insurance was in effect before insurance took into present form. As commercial activities grew those who ventured into it whether in its simplest form or in its most advanced form, realized that risks also took varied forms and insurance is now much sought after.
Finance, management skills, machinery, property, the products of the enterprise would all be at naught overnight, of a catastrophe should strike even a component on which it relies. Businessmen now realize that while not all risks can be foreseen, it is possible to anticipate some and insurance against these risks provide a safety-net should the risk materialize.
In seeking to acquire insurance, entrepreneurs take advice from those who deal in insurance. Usually these people are trained to advice businessman in the type of protection best suited to their respective enterprises.
Insurance “Agents” represent particular insurance companies while insurance “brokers” play the field. Businessmen ought to take advice whether from the one or the other, to provide the best coverage that is available and suited to their needs. This is necessary as a new businessman may not really know what to look out for and without good advice may fail to secure the best terms and coverage.
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