What is the relationship between insurance and successful financial management? Why is insurance important?

Question

16-08-2017
Business

contestada

What is the relationship between insurance and successful financial management? Why is insurance important?

Respuesta :

Otras preguntas

1. how does critical thinking relate to peer assessment? what strategies from this week can you apply when you assess written assignments?

How did the planters (the largest slaveowners) justify the system of slavery? Why did poor southern whites support the institution of slavery and the power of t

Common property resources tend to be:_________ a. overused. b. used by the government only. c. efficiently used. d. underused. e. not used at all

Given the orbits of pluto and the kbos if you wanted to search the sky for similar objects, would you look in the same part of the sky as you find the classical

Visitors can go directly to the advertised website by cliicking an ad in a process called?

Locating some of the many genes that together with particular life experiences orchestrate complex traits such as impulsiveness is one of the major goals of?

When mars manufactures m&m’s, snickers, and other confectionery products, or when trek designs bicycles, each company’s core question is: how do we produce

Explain how the results of pasteur’s s-shaped tube experiment was important in disproving spontaneous generation and how it supported the idea that cells come f

Which function represents g(x), a reflection of f(x) = 1/2(3)^x across the y-axis?

Which list discussed in dave crenshaw’s training video helps sort gathering points?

amniotecardamom amniotecardamom · Answer 1 · 2019-12-06T15:00:56+01:00

Successful financial management is the proper use of your money to maximize your income, whether in the financial market or a productive investment such as a trade or factory. Efficient financial management also consists of emergency planning and protection against unexpected situations that could put your assets at risk. Like for example a fire. It is in this sense that insurance is important. Insurance is a contract you make with an insurer to protect your assets if that event occur. For example, if you take out fire insurance, if a fire occurs in your home or business, the insurer will reward what you have lost financially, according to the terms of the contract.

OlanmaE OlanmaE · Answer 2 · 2021-10-28T13:41:06+02:00

Insurance is an important aspect of risk management in business. Insurance is related to successful financial management because when a business is insured, it can weather times of loss and unforeseen occurrences without losing its strength. Insurance is important because it helps businesses to mitigate loss.

Insurance is an aspect of risk management in business where a policyholder pays an agreed sum to the insurer, with the intent of lightening any unforeseen losses they may encounter in the future.

Insurance is important because businesses come with risks that could be sudden and unexpected.

The pool of funds generated by the insurance company from other insurers will be used to attenuate the loss that the business will face.

Conclusively, if businesses will thrive for a long time, insurance is very beneficial.

Learn more here:

https://brainly.com/question/13769098