Home / What is the purpose of insurance?

What is the purpose of insurance?

financial daily update

What is the purpose of insurance?

Insurance is a contract in which an insurer promises to pay the insured party a sum of money if one or more specified events occur in the future, in return for regular small payments – known as premiums. The purpose of insurance is to reduce your business’ exposure to the effects of particular risks.

Stay Connected

Subscribe to our mailing list to receives daily updates direct to your inbox!
Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter and stay updated.

*we hate spam as much as you do

Advertising Disclosure

The content featured in this article may include sponsored placements or affiliate partnerships. These do not reflect the views or recommendations of Financial Daily Update.
We do not guarantee the accuracy or reliability of information presented by third-party contributors or advertisers. You are encouraged to verify all product claims and service terms directly with the provider.
Some of the links on this page may lead to financial partners. If you take action through those links—such as applying for a loan or signing up for a service—we may earn compensation.
That said, all editorial content is written independently and without bias, in line with our mission to provide transparent and informative financial reporting.
Subscribe to our mailing list to receives daily updates direct to your inbox!

*we hate spam as much as you do