Insurance and business insolvency
Anyone who starts his or her own business takes certain risks. It may be that the demand for the particular goods or service offered by the business falls and the business starts to make a loss or the business property may be damaged by fire or some of the business goods may be stolen. Business is risky but fortunately some of the risks can be protected against by means of insurance. In this chapter we will be considering the principles of insurance, showing what risks are insurable and those that are not and also looking at the insurance market. The following example will be used to explain some of these aspects.
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