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What essential function does insurance serve for businesses ?
  • a)
    Ensuring competitive pricing of goods
  • b)
    Providing protection against various risks
  • c)
    Facilitating direct sales after production
  • d)
    Managing public relations activities
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What essential function does insurance serve for businesses ?a)Ensurin...
Insurance plays a crucial role in businesses by providing protection against various risks such as fire, theft, accidents, and occupational hazards. It allows businesses to safeguard their assets, including buildings, machinery, and inventory, by compensating for losses or damages incurred. This protection not only secures the business's financial stability but also ensures continuity in operations.
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What essential function does insurance serve for businesses ?a)Ensuring competitive pricing of goodsb)Providing protection against various risksc)Facilitating direct sales after productiond)Managing public relations activitiesCorrect answer is option 'B'. Can you explain this answer?
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