Discuss five ways in which the insurance industry enhances the growth of business enterprises in the country.
Answer Text: -It mobilises saving which the business community borrows for the purpose of business-The life assurance can be used as security or collateral to get loans from insurance company-Insurance company invests in buildings, shares or other securities which are used by the business community-The industry creates confidence among the business community enabling them to venture into profitable businesses even if they are risky-The insurance company provides compensation to the business communitythus enabling continuity of business operations-Provide loans for business operations.
Get premium membership