There are various risks attached to today’s business, whether small, medium
or large. One of the major risk is losses suffered by business due to Fire, Theft, and
Earthquake. Insurance companies are ready to bear these losses if the business
takes the insurance policies to cover the loss that may arise through re, theft, and
earthquake and pay the insurance premium as determined by the insurance companies
within the due dates.
A proper insurance policy will help the business concern from probable loss
against loss by re, theft etc., Here in this chapter more emphasis is given to re
insurance because “A policy of re insurance will protect the assured loss caused by
re, and insurer is liable to pay the actual loss suffered by the assured not exceeding
the sum insured on the property”.