Considering the benefits and importance of insurance, the ten roles of insurance in a business include "security and safety."
The other roles of insurance in a business are:
- Mitigation of risk
- Provision of insurance service by the insurance company
- Protection from unexpected losses
- Ease of getting loans
- Provision of social cooperation
- It enhances saving habits
- It aids some contracts that require it.
- There are tax benefits.
- Promotion of trades and industry, etc.
Hence, in this case, it is concluded that insurance plays various roles in business.
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