Insurance policies exist to minimize risks and damage that may be caused by unforeseen events. No business should be run without insurance. Provide a scenario in which insurance policies may mitigate risks in a small business. Discuss how personal insurance needs are similar or not similar to business needs. Choose and describe an insurance product that can be utilized in your personal life and how it can minimize your personal risk.

Answer rating: 100% (QA)

Scenario Lets consider a scenario where a small business operates a retail store selling electronics and appliances One day while the store is closed a fire breaks out due to an electrical fault resul... View the full answer