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4. Insurance

Anticipating and planning for risks in the business and environment that we are in right now is something that is very important. When a risk is materialized or when it occurs it causes loss to the organization. For organizations to be in a place where they can reduce the impact of risks that face them and the need to plan for them. One of the ways that organizations ensure that they reduce the impact of risks is by getting insurance policies. Insurance policies are covers where one is compensated when the risk insured against occurs. It is very important for insurance policy holders to know that insurance policy covers only reduce the impact of loss but do not remove the risk. See page

The business world has become very dynamic and very unpredictable and as such organizations need to abreast with any changes that may affect them. ,Because so many insurance companies have come up to help businesses deal with the risks, it is important for an organization to get the best insurance company that will give them the services that they require. They are so many advantages for an organization that gets insurance policies. One of the benefits is that the company or the organization is compensated for any loss that occurs when the risk insured against happens. Some of these risks that occur may affect the business going concern especially if the losses are very huge. Having a business insurance policy helps the organization be sure of it going concern status because they know in case of a loss they are going to be compensated. Having a business insurance policy helps the organization reduce financial losses. A company is more profitable and is able to take care of the needs of its shareholders and customers if financial losses are reduced. Read on Harrah & Associates

Financial losses are usually is a result of unexpected changes in the business environment. Financial losses are taken care of when an organization is compensated by an insurance company when the loss occurs. A good reputation with the general public is another benefit that an organization gets when it has a business insurance policy. An organization that has a business insurance policy is assured of continuity in case of losses. A business insurance policy helps the organization be in a position where it can be trusted by its shareholders and customers because they know that the organization is going to be a going concern for a long time. View