Business insurance protects companies from financial losses caused by occurrences that occur in the normal course of business.
Property damage, legal liability, and employee-related hazards are all covered by various types of insurance for businesses.
Companies assess their insurance requirements based on prospective hazards, which can differ depending on the sort of environment in which they operate.
TAKEAWAYS IMPORTANT
Business insurance is a broad term that refers to a type of insurance coverage that is sold to businesses rather than individuals.
Businesses buy insurance to protect themselves from property damage, lawsuits, and contract problems.
Business insurance makes up about half of the property casualty insurance market in the United States, and it includes various "business lines" insurance products.
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