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in Insurance-Introduction and Importance by (53.6k points)

Insurance provides security from man-made risks. Explain?

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Today, insurance sector is providing security to commercial organisations from man-made risks or human mis-conduct. General insurance companies and their assisting companies have launched various insurance schemes which cover losses from strikes, riots, misconduct, losses, theft, dacoity, etc. Commercial and industrial organisations are benefitted from these insurance schemes. Likewise, cash is also insured which is moved from one place to another physically. By this, business firms become tension free from possibility of robbery of cash and can do business without undue worries. Therefore, insurance agencies help in providing security from man-made risks.

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