insurance is a risk transfer mechanism whereby the individual business enterprise can shift some of the uncertainities of life on the shoulder of the other. all the people will desire to live a cleaner,healthier,comfortable and easy life. to met this requirement different enterprises produce and provide goods and service. they make innovations and inventions,which may take great risk. Large rsponsibility falls on the shoulder of innovators and inventors. A small error or lapse may cause numerous side effects and cause death or disability. this type of sk highlight the importance of insurance.if there had not been insurance at the back of all innovators the world would have never progressed.
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