April 23, 2025
There is no dispute that insurance plays an indispensable role in society by securing individuals, families, and businesses against financial losses emanating from a multiplicity of risks like illness, accidents, and natural disasters, to name a few.
In providing financial protection against life’s uncertainties, insurance offers us peace of mind as we navigate our daily lives. Insurance acts as a risk-transfer mechanism where one party, the insured, transfers potential financial loss arising from certain events to another party known as the insurer.